Learning point: When a hawk turns into a dove


FX lessons

Learning point this am which we shouldn’t let pass. 

When a hawkish board member makes a dovish comment

This is what happened earlier. Bank of England’s Saunders is a hawk, but his comments about not delaying a necessary rate cut because of Brexit were dovish. See here for his earlier comments.

The reactions in the GBP were instant.  

hawk turns dove


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