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Mar 22 - 06:55 AM

GBP/USD - Slides Through 1.26 As Bailey Says BoE Cuts In Play

By Rob Howard  —  Mar 22 - 04:35 AM
  • Cable falls to 1.2585 as Governor Bailey says BoE rate cuts in play (FT)

  • 1.2585 is lowest level since Feb 20 (1.2580 was low that day)

  • Bailey's guidance spurs dovish shift in BoE rate expectations

  • Markets currently see 24% chance of BoE rate cut in May 0#BOEWATCH

  • 1.2600 (March 1 low) is now a resistance level. 1.2651 was Thursday's low

  • UK Feb retail sales flat MM vs minus 0.3% f/c; Jan revised up by 0.2% MM

Source:
Refinitiv IFR Research/Market Commentary

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