Dovish BoE Sends GBP/USD Lower, 2 Voters Call for Rate Cuts


GBP/USD Analysis and Talking Points

BOTTOM LINE

Bank of England provides a dovish hold after a 7:2 vote split with the two dissenters calling for a 25bps rate cut. In turn, pushing GBP/USD lower, however, money markets are only slightly raising the likelihood of a cut, given that markets had been pricing in cuts throughout 2020.

GBP/USD Price Chart: 1-Minute Time frame (Intraday)

Dovish BoE Sends GBP/USD Lower, 2 Voters Call for Rate Cuts

— Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX



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