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FXstreet.com (Barcelona) - Sebastien Galy, Senior FX Strategist at Societe Generale notes that at today's BoE statement, Governor King took the opportunity to crush GBP as much as possible.

With the inflation path pushed higher in the report and King saying that GBP weakness was a necessary condition for rebalancing, Galy notes that none of it is new, but it fits well within the existing themes.
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