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GBP/USD slides below 1.32 on BOE comments
The Pound was already falling back earlier this morning, as the dollar continued its rebound, when comments reported in a leading UK newspaper, by the BOE governor sent it lower again. Andrew Bailey said that perhaps the Bank of England might be a bit more aggressive in lowering interest rates, provided the inflation continues to abate. Prior to this the Pound was still holding above its 21 day moving average. In fact that level, at 1.3233 had capped the downside all day yesterday too, after it was noted here as the next important support level. Well, it has not capped the downside this morning, as the GBP/USD sailed through the level (now at 1.3235) without touching the sides. The Pound has now traded through 1.3200 and just hit a session low at 1.3182
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