GBP/USD Weekly Forecast: BoE Hawks vs UK Reopening Concerns

GBP has been able to hold onto profits stemming from BoE's Vlieghe, who provided quite hawkish remarks having discussed states in which a rate hike in 2022 could be appropriate. The move in the Pound highlights the markets elevated sensitivity to fluctuations in the position in central banks (RBNZ another instance ). Alongside this, while Vlieghe is departing the BoE at the end of August, the simple fact that he's generally more dovish relative to other MPC members may provide a sense of where the rest of the penis's stance lies. Nevertheless, currency markets are pricing in a move to 0.25% by Nov 22, a further hawkish repricing may see that change involving Q3 2022.