Bank of England Governor Andrew Bailey spoke at 09:15 UTC on 25 September, and sterling’s response was small and uneven. The clearest move came against the Swedish krona, where GBPSEK edged up 0.05% in the 15 minutes since he began.
Where the pound moved
GBPSEK led the reaction, rising from 13.1089 to 13.1157, a 0.05% gain and the widest shift on our feed.
Against the euro, the pound also firmed a touch: EURGBP slipped from 0.8607 to 0.8604, a 0.03% move lower in the cross.
GBPJPY added 0.02%, moving from 209.082 to 209.132, while GBPSGD rose a similar 0.02%, from 1.69129 to 1.69164.
The Norwegian krone was essentially flat, with GBPNOK easing from 12.6055 to 12.6046, down 0.01%. Against the US dollar there was almost no reaction at all: GBPUSD sat at 1.3237, a change of just 0.001%.
What the reaction shows
The move was muted and shallow across the board, with no cross registering more than a 0.06% shift. What direction there was leaned slightly in the pound’s favour, and it concentrated in the Scandinavian and cross-yen pairs rather than the headline majors.
Sterling’s two most-watched rates, GBPUSD and EURGBP, barely budged, leaving the dollar pairing effectively unchanged. On this feed, the market treated the remarks as a low-volatility event.
Descriptive market news from the ForexBullion Research Team. Not investment advice.
