GBP/USD – Was BoE as Dovish as Markets Suggest?

“Super Thursday” turned out to be anything but for GBP, with the inflation report sending the currency tumbling to trade half a percentage point lower against the EUR and USD and a full percentage point against JPY.

Senior Market Analyst Craig Erlam discusses whether the moves lower are warranted and what he thinks contributed to the sell-off which came despite the BoE warning that members would need relatively upside news on growth or inflation to consider voting for tighter policy.

Craig takes you through all of the key points from today’s event and gives his analysis on GBPUSD. He also follows up on his analysis of GBPJPY and EURGBP from the Super Thursday Preview video.

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.