The Bank of England hiked interest rates by 75bps in their today's meeting.
The current interest rate is 3.00%; the previous rate was 2,25%
BOE Governor, Andrew Bailey warned of a looming recession. The Governor's speech sounded dovish today during his press conference and led to the Pound's decline against the US Dollar.
I expect to see some further losses in GBPUSD. Sellers could push prices further down to $1.1000 and further beneath the previous hourly demand level of $1.0400.
The US Dollar has been having some gains since the start of the week because of the FED Interest rate hike
The current interest rate is 3.00%; the previous rate was 2,25%
BOE Governor, Andrew Bailey warned of a looming recession. The Governor's speech sounded dovish today during his press conference and led to the Pound's decline against the US Dollar.
I expect to see some further losses in GBPUSD. Sellers could push prices further down to $1.1000 and further beneath the previous hourly demand level of $1.0400.
The US Dollar has been having some gains since the start of the week because of the FED Interest rate hike