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EUR/GBP edging lower with FTSE 100 as BOE bankers await

At 10.15am GMT this morning a group of leading Bank of England policy markers, led by the Governor, Andrew Bailey are due to testify in front of the UK parliament Treasury select committee. The prospect of this bunch underscoring their hawkish monetary policy stance is a prospect not wasted on the markets. That is helping to push the pound higher versus the Euro and also it seems weighing on the FTSE 100 since the opening. The EUR/GBP is close to session lows as I write this update. The other thing to note here; is the growing prospect of some Tax cuts from the UK chancellor tomorrow. Those are sure to be limited, but the UK Prime Minister, Rishi Sunak did state in his speech yesterday, that now is the time to start moving in that direction. So, the prospect of firmer for longer monetary policy is likely to be endorsed here this morning, assuming that tax cuts are on their way. That is not being lost on the FTSE, or the pound right now 
 

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