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This morning we have the Bank of England release the minutes from their May meeting. With all eyes on the release to show any detail or hint at a future interest rate hike, today could potentially be quite a volatile day on the market ones again.

On the political front, the new Government gets sworn in today, starting with David Cameron this morning. The market seems to be hopeful that the new Con-Lib coalition may release soon their full plan on how to reduce the UK debt. If the plans seem positive we may see GBPUSD rates back up to that magic 1.50 mark in the not too distant future.