Cable attempts to claw back losses that ensued after the Fed meeting. Catherine Mann, a more hawkish member of the MPC, detailed why she no longer voted to hike
One of the staunch ‘hawks’ within the Bank of England’s Monetary Policy Committee is Catherine Mann and she has recently clarified why she no longer voted in favour of a hike. Mann is of the opinion that market expectations around rate cuts is too high, something that appears to be supporting the local currency.
Since spiking above the prior range, not for the first time either, GBP/USD heads back into familiar territory as the pair looks to recover from the sharp decline. 1.2736 is the next level of resistance should bulls take over from here. Sterling stands to benefit from a slightly weaker dollar at the start of the holiday-shortened week which also happens to be very quiet from a scheduled risk point of view with just PCE data scheduled for release on Good Friday.
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