Bank of England Deputy Governor Sarah Breeden said on Tuesday that it’s important for the monetary policy to be restrictive for an extended period.
“I have no pre-determined policy path in mind,” Breeden added.
Market reaction
Pound Sterling continues to gather strength against its rivals following these comments. At the time of press, the GBP/USD pair, which spent the Asian session in a tight channel near 1.2650 after posting losses on Monday, was trading at 1.2735, rising 0.75% on a daily basis.
Pound Sterling price today
The table below shows the percentage change of Pound Sterling (GBP) against listed major currencies today. Pound Sterling was the strongest against the Japanese Yen.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | -0.41% | -0.67% | -0.10% | -0.52% | 1.04% | -0.55% | -0.46% | |
| EUR | 0.40% | -0.28% | 0.30% | -0.12% | 1.40% | -0.14% | 0.00% | |
| GBP | 0.67% | 0.25% | 0.57% | 0.16% | 1.70% | 0.10% | 0.21% | |
| CAD | 0.10% | -0.31% | -0.57% | -0.42% | 1.10% | -0.45% | -0.34% | |
| AUD | 0.52% | 0.11% | -0.14% | 0.42% | 1.55% | -0.02% | 0.06% | |
| JPY | -1.02% | -1.39% | -1.69% | -1.11% | -1.53% | -1.54% | -1.46% | |
| NZD | 0.55% | 0.14% | -0.13% | 0.44% | 0.03% | 1.57% | 0.09% | |
| CHF | 0.45% | 0.03% | -0.22% | 0.34% | -0.08% | 1.48% | -0.10% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
Source: https://www.fxstreet.com/news/boes-breeden-important-for-policy-to-be-restrictive-for-an-extended-period-202312191306