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GBP/USD: Prospects for Recovery As BoE Considers Tapering
Bulls truncated intraday losses on the GBP/USD after Bank of England policymaker Michael Saunders said the BoE might stop its asset purchase program due to a shock rise in UK inflation. The comments by Saunders echo those of departing chief economist Andy Haldane, who was the lone voice calling for the BoE to end its bond-buying program. Saunder’s position brings to two the number of BoE policymakers who are starting to shift away from the dovish stance of BoE Governor Andrew Bailey. UK Claimant count change had dropped from 151.4K to 114.8K, with 356K jobs added to the Uk economy. Wage growth is now at 21-year ... (full story)