12 September 2023, GBP/USD
GBPUSD trading plan:
Bank of England policymaker Catherine Mann said that it was too soon for the BoE to stop raising interest rates, and that it was better for the central bank to err on the side of raising them too high rather than stopping prematurely. "I would rather err on the side of over-tightening. But, if I am wrong, and inflation decelerates more quickly and activity deteriorates more significantly, I will not hesitate to cut rates," she said in a speech text published by the BoE. "In my view, holding rates constant at the current level risks enabling further inflation persistence," she added. Mann, the most hawkish member of the Monetary Policy Committee. She struck a different tone to BoE Governor Andrew Bailey, who last week said the central bank is "much nearer" to ending its run of interest rates increases.
Investment idea: range 1.2470 -1.2570.
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