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💷🔻 Pound Closes Lower On BoE Days: Cable FX Macro

  • Looking back at a year of Bank of England policy decisions, GBP/USD has ended the day lower every single time. Sterling is known for giving back its gains or extend initial weakness after the statement

  • Its worst day was down 1.0%, the best day was down 0.05%. As of time of writing, the pound is posting mild gains vs the dollar, but this could be USD softness trading more than relative GBP strength. When compared to the euro, the pound posted the same pattern of weakness on BoE monetary policy decision days

  • Average % performance in GBP/USD is -0.23%, 30 minutes after the BoE released its statement



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