While the Bank of England warned last month that it will take little upside on growth and inflation to consider voting for tighter policy, markets were caught off guard on Thursday when two policy makers joined Kristin Forbes in voting for a rate hike.
Senior Market Analyst Craig Erlam discusses whether this is a game changer for the pound and whether we can expect to see further gains in GBPUSD. He also discusses the other factors at play here and gives his analysis of the chart.
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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.