GBP/USD Rally Stalls: What to Expect from BoE Governor Bailey at Jackson Hole
Thursday, 22 August 2024, 14:59
Current Market Dynamics
GBP/USD rally stalls as Quantitative Tightening (QT) from the Fed, ECB, and Bank of England significantly reduces the supply of reserves.
Market Reactions
- EUR/USD hits a critical resistance level at 1.1140.
- Market participants look to upcoming speeches for hints on monetary policy.
Insights from Bailey's Speech
As BoE Governor Bailey prepares to speak at Jackson Hole, traders are keenly focused on indicators regarding the Bank's future policy adjustments. This could drive the GBP/USD in either direction.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.