Flash: GBP/USD lacks catalysts to the upside – UBS

FXstreet.com (New York) - After Wednesday's surprisingly soft US print, the GBP/USD found itself in a period of volatility recently, especially given the tranche of UK data to his the wires, notes Research Analyst Gareth Berry at UBS.

Perhaps more investors are subscribing to the Chancellor's view, also delivered on Wednesday that the UK economy has moved from 'rescue' to 'recovery' mode. According to Berry, “We already expect growth to outperform core Eurozone economies and confirmation of current trends would relieve pressure on BoE to deliver further stimulus. The problem for GBP is that all of this does not appear to be obvious catalysts for upside.”