GBPUSD will drop HARD.
Cunliffe (Dove). Wed: Will set out terms for selling bonds bought after mini-budget at the right time, monetary policy needs to do what its needs to do. LDI funds can absorb a 200 bps rise in yields, weaker areas particularly in non-bank finance and especially in emerging markets, Dutch central bank looking at what's happening in the UK on LDI. Government power to call in, rewrite, veto financial rules made by regulators would be a serious concern, would affect perception of independence of BOE's regulatory part. Did not have a full briefing on mini-budget before its announcement.
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