The Bank of England’s Governor Andrew Bailey spoke at 02:00 UTC on 16 October, and sterling’s reaction on our feed was slight and split. GBPAUD led the move, easing 0.08% in the 30 minutes after he began.
Where the pound moved
GBPAUD was the clear frontrunner, slipping from 1.91747 to 1.91594, a 0.08% decline against the Australian dollar.
GBPUSD went the other way, edging up 0.031% from 1.3274 to 1.32781 β the only notable gain on the board.
Elsewhere the pound barely registered. GBPJPY eased 0.01%, from 209.8165 to 209.7955, while GBPCHF ticked up 0.006% from 1.09886 to 1.09892.
The remaining crosses were effectively flat: GBPNOK softened 0.003% to 12.57304, and EURGBP slipped 0.002% to 0.84474.
What the reaction shows
The response concentrated in a single pair. GBPAUD accounted for the only move worth more than a few thousandths of a percent, and even that stayed under a tenth of one percent.
Direction was mixed rather than uniform: the pound lost a little ground against the Aussie, yen, krone and euro, but firmed marginally against the dollar and franc. With gains and losses offsetting across the board, the overall reaction to Bailey’s remarks read as muted and without a clear through-line.
Descriptive market news from the ForexBullion Research Team. Not investment advice.
