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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 i
by 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.