Latest note from Italy's largest lender reported by Bloomberg

  • Sees GBPUSD at 1.6500 by end of Q2016
  • Fed will hike rates in December with BOE to follow in Feb

"The process of policy normalization in the UK will start sooner than the market expects. Sterling will remain on a relatively firm tone"

Why wait til Ded/Feb? Bank of Spain gov Linde is even more bullish!

Earlier Citigroup pushed back their BOE hike forecast to Q4 2016