Free Trial

Initial GBP Strength Hits Reverse

GBP
  • Initial GBP strength hits reverse, on heavy volume (futures volume neared 9,000 contracts in the two minutes following BoE decision - over $680mln cash equivalent), with GBP/USD shedding over 80 pips off the reaction high, and EUR/GBP touching a new cycle best at 0.8935, the highest since late September last year.
  • Initial GBP rally appeared based on lack of three-way vote split among the MPC, but impact moderating swiftly at typing. Focus turns to Bailey press conference in 15 minutes - shortly followed by the ECB.

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.