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Traders assailed the Bank of England

Traders assailed the Bank of England | 05 November 2021

05 November 2021, GBP/USD

Traders assailed the Bank of England

GBPUSD trading plan:

Traders assailed the Bank of England for not delivering an interest rate rise they had bet on, in what may be a sign of things to come as central banks around the world tread carefully to balance inflation risks and economic growth. Thursday’s 7-2 vote against tightening policy triggered a 1.5% drop in sterling and a jump in government bond prices, while money markets that had also priced in a second hike before year-end pushed back their bets to February. Bailey defended the decision here in a news conference, saying policymakers had never indicated they would act at a particular meeting.

Investment idea: sell 1.3518 and take profit 1.3470.

David Johnson
Analyst of «FreshForex» company
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