USD flows: BOE/SNB Next Focus

Focus for the coming days is on the BOE and SNB meetings Thursday, with no expectations for the BOE and a 60% expectations for a 25bps cut from the SNB.  Views on GBP diverge, with some looking for further gains feeling that the BOE will not become more dovish but others feeling that the minutes will likely inflate expectations of an August cut -- charts point to choppy trading prospects.  Meanwhile, SNB Jordan recent comments have left the market far from certain about a cut, though those that look for a cut feel it could produce some temporary softening of the CHF – safe haven flows over France political jitters are more important.  The Norges bank meeting on Thursday, given the communications from the Norges bank point to no near-term rate changes.