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Nov 09 - 04:55 AM

GBP/USD - Holds Below 1.23 Before BoE's Pill Speaks Again

By Rob Howard  —  Nov 09 - 02:45 AM
  • Cable holds below 1.23 before BoE chief economist Pill speaks at 0830 GMT

  • Pill issued 2024 BoE rate cut guidance on Monday - which weighed on GBP

  • On Wednesday, BoE chief Bailey said 'really too early' to discuss rate cuts

  • Last Friday's pre-NFP data high of 1.2242 defined Wednesday's GBP/USD low

  • UK Sept and Q3 GDP data due at 0700 GMT Friday; 0.0% and minus 0.1% forecast

  • MPC dove Dhingra might vote in favour of BoE rate cut as early as next month

Source:
Refinitiv IFR Research/Market Commentary

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