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GBP/USD lifts as BOE chief economist walks back on Bailey comments
The Bank of England Chief economist, Huw Pill has just now been taking on the wires and his comments have helped the Pound to rebound versus the dollar, Euro and the Yen. Pill just stated that further BOE rate cuts are very much predicated on inflation easing back and there is caution necessary to be exercised in that regard. This is not exactly in opposition to what Bailey said yesterday, moreover just adding some clarity. So, the GBP/USD punched its way to a new session high above 1.3165 on these comments. The EUR/GBP fell back further too, but it is unclear which pair was leading the other to be honest, because at the same time the EUR/USD edged a little lower. The FTSE 100 has also edged a little lower at the same time and that comes even as Oil advances to fresh interim highs this morning. The GBP/USD is just now trading at 1.3154
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