Goldman Sachs on the pound:
We revised our forecasts for Sterling sharply lower in July, bringing in particular our 3-month forecast for GBP/$ to 1.20.
the Bank of England didn’t ease in July, preferring to wait until its August meeting. This delay, though in line with the expectations of our UK economists, was nonetheless a disappointment for markets, and broke what up to that point had been clear momentum to the downside in GBP/$.
