Market participants may be on alert for pound movements following the BOE policy rate announcement

Market participants may be on alert for pound movements following the BOE policy rate announcement

22.09.2022

In the previous day’s U.S. currency trading, the U.S. dollar strengthened following the Federal Open Market Committee’s (FOMC) decision to raise interest rates for the third consecutive meeting. The EUR/USD pair fell by approximately 160 pips, from 0.9974 to 0.9813. It continued to decline during today’s Asian trading session, hitting a new low for the year. It is currently trading around 0.9808, and since a perfect order is maintained across moving averages on the daily chart and above, we should remain cautious of further declines.

Among European currencies, the pound fell against the U.S. dollar ahead of today’s policy rate announcement, while it trended higher against the yen. The GBP/JPY pair rose by approximately 180 pips from 161.402 to 163.236, rebounding from the lower boundary of its daily uptrend line.A 50-basis-point rate hike is expected in today’s BOE policy rate announcement, but we will closely monitor price movements following the announcement to see if the increase matches market expectations.

Today’s schedule includes a press conference by Bank of Japan Governor Kuroda at 3:30 p.m., Turkey’s Consumer Confidence Index at 4:00 p.m., the Swiss National Bank’s (SNB) policy rate decision and statement at 4:30 p.m., a press conference by SNB Governor Jordan at 5:00 p.m., the ECB’s Monthly Report, and at 8:00 p.m., the UK’sthe BOE policy rate and statement, and the Turkish TCMB policy rate and statement; at 9:30 PM, U.S. initial jobless claims and the U.S. second-quarter current account balance; at 11:00 PM, the U.S. leading economic index; at 11:30 PM, U.S. weekly natural gas inventories; and at midnight, the U.S. Kansas City Fed Manufacturing Activity Index.We should watch for any price movements in the pound following the BOE policy rate announcement.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 20.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 17.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 16.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 15.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 14.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

8. 13.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 10.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

10. 09.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?