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Jul 01 - 06:55 AM

GBP/USD - Falls To 11-Week Low On BoE Bailey's Dovish Steer

By Rob Howard  —  Jul 01 - 05:15 AM
  • Cable drops to 1.3773 on BoE Governor Bailey's dovish Mansion House speech

  • Bailey warns against over-reaction to rising UK inflation nL5N2OD26P

  • 1.3773 is the lowest level since April 16 (1.3717 was the low that day)

  • Dovish Bailey steer comes after BoE kept stimulus taps on last week

  • See: nL5N2O62WF. 1.3800 (ex-support point) is now a resistance level

  • GBP/USD was trading on 1.38 handle before Bailey's speech nL2N2OD0OZ

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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