Viraj Patel

We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Viraj Patel is associated, including Bank, England, and sell-off. Most recently, Viraj Patel has been quoted saying: “Our economists just don't see Westminster accepting a second referendum at least in the next 6 to 12 months. They don't want to be battling on two fronts.” in the article Sterling slips as investors brace for Trump speech.

Viraj Patel quotes

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The bar was high for the FOMC (Federal Open Market Committee) to deliver a hawkish surprise, and one could argue that asset prices, in particular bond yields and the dollar, had been reflecting overshot tightening expectations going into this meeting.

Our economists just don't see Westminster accepting a second referendum at least in the next 6 to 12 months. They don't want to be battling on two fronts.

I think this is a bit of a correction after what was a pretty negative week last week in terms of UK data.

Is Trumpflation back with a vengeance? Probably investors will want to wait but it does seem that all of the cards for another bull run for the dollar may be falling back into place. There can only be upside risk going into Yellen's testimony this week.

But for sterling in particular you've got a bit of uncertainty ahead of tomorrow's Bank of England meeting and we've got this Brexit ruling as well – those could both bring favourable outcomes.

We've had two days of massive sell-offs so this temporary reprieve is not unexpected, especially as we've had no new news – I think that's key.

Despite the large scale ECB easing last week, our economists are not looking for the BOJ to follow suit, certainly not in terms of a lower negative rate.

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