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Dovish comments from BOE undermine GBP/USD job positively
The Bank of England Governor, Andrew Bailey has just been talking over the wires and his comments have been rather downbeat so far. Bailey has said the UK economy faces a heightened period of uncertainty. He also states the economy is in a period of disinflation. Well, looking at the wage increases seen earlier this morning, it is pretty hard to square his circle on that. We do know that Bailey is keen to lower rates and it seems he wants to support the Chancellor in her quest to dig herself out of an ever-deepening hole. So, to be honest the comments from Bailey this morning seem rather disingenuous, especially when it comes to his remarks on disinflation. Nevertheless, the Pound has nudged a little lower now. However, if the markets really believed him, it would be a good deal lower than it is right now. The GBP/USD is currently trading at 1.2603
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