Free Trial

GBP/USD Stable Above Lows As BoE Presser Begins

GBP
  • GBP/USD plumbed a new pullback low on the dovish interpretation of the 7-2 vote, the 1.6% 3-yr CPI forecast and Bailey's optimism that "things are moving in the right direction".
  • Rate slipped to 1.2448 before stabilising, while EUR/GBP rallies well back above the 200-dma, but still well short of the key 0.8645 resistance.
  • Markets watch for any commentary on the suitability of a June or August rate cut, on which Bailey notes a June Bank rate cut is "not ruled out, or planned".

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.