Interest Rate Decision Bank of England (BOE) monetary policy committee members vote on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.0.50% we are waiting A higher than expected , which will pull GBP/USD to 1.718 today on the market
Who is ‘We?’ The BOE said rates will be hiked sooner than expected but based on what did you receive the impression it will be yesterday?
Then on Friday there was a rumour that Carney was back tracking, down went price.
The rumour was quickly denied by BOE, and up went price.
Nothing unusual about all that, always sell the rumour. What is unusual, imo, was the denial.
Carney is speaking this Wednesday, earlier the same day we get the vote count.
Yep, I agree that the BOE minutes could be crucial in determining whether GBP can have more upside or not. Looks like there’s a lot of hesitation at its recent levels.
Yes, Wed is big event risk on GBP and then on Thu there is Retail Sales, again watched closely.
I like to use this site for an outlook and the fact that their ‘monitor’ is published the week before the ONS numbers.
Thanks for sharing this! Yeah, I agree the middle of this week would be a busy one for the pound. This could show whether the rallies will resume or if a reversal is more likely. What’s your take?
Well the UK news has caused the bull trend, of late the possibility of an interest rate rise has been the driver.
With inflation near the BOE target of 2% and zero sign of inflationary pressure in wages I think the pressure is off, but I suppose what I think has little bearing, more important is how the BOE is thinking.
That’s maybe why Gov Carney’s talk, the MPC minutes and then retail sales may have such an impact.
I’d normally be looking at the long side but not just so sure this time 
Yeah same here, bullish bias but not as strong as before. Data has lagged, even in house prices, so there’s a good chance the BOE might not be as hawkish anymore. Plus, on the technical side, it seems like trends are exhausted. Let’s see how it goes!
Well we are down at 7026 - the wages aspect played an important role, however I would be cautious of calling a top in GBP.
Business leaders in UK now looking for an interest rate rise which is not the norm, they are becoming a little agitated on what they see as indecision on the part of the BOE - so watch the vote count closely next month:
BBC News - Bank of England and business at odds over rate rise
And for an outlook on the upcoming GDP numbers on UK:
BBC News - UK to post strongest growth in G7, says Item Club