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GPB to Dollar seems to have levelled out and started coming back slowly so I guess they might get away with it. As the dollar is also up against Euro and many o

by Neil44 4y ago

GPB to Dollar seems to have levelled out and started coming back slowly so I guess they might get away with it. As the dollar is also up against Euro and many other currencies, possibly due to it being a default 'safe port' in uncertain times, I guess they're trying to take a measured approach.

SilverBirch 4y ago
It's really difficult to judge the GBP:USD rate, because it started sliding yesterday, and then it looked like there would be a BoE intervention, which caused it to recover. So it's a sort of catch 22, if it gets really bad the BoE might intervene, if the BoE does intervene, it'll rise because of the intervention. So it sort of levels out at "This is the lowest we can get without pricing in the BoE doing an emergency hike". It's very difficult to tell what is driving what.