GBP/USD lower on BoE minutes
The Bank of England October monetary policy minutes showed MPC unanimously voted to leave monetary policy unchanged.
Some points we should pay attention to:
- 2013 unemployment and GDP growth could be faster than forecasted in August
- BoE expects H2 GDP to grow by 0.7% q/q or a little higher
- The current GBP strength may reflect stronger data and lower financial system risk
- Regulator doesn't seem to be worried by the expensive pound
- However, there was no hawkish hints, despite the recent labor market improvements
GBP/USD extended the downside, slipping to $1.6135.
Chart. H4 GBP/USD