The British pound came under selling interest during the European morning Tuesday following dovish comments by Jonathan Haskel, who is due to replace Ian McCafferty as a BoE MPC member in September. As for tonight, the spotlight is likely to fall on the RBNZ policy decision. Expectations are for the Bank to stand pat and thus, market attention is likely to quickly turn to the accompanying statement.
BoE Replaces an Ultra-Hawk with a Dove
The pound ended the day virtually unchanged against all but three of the other G10 currencies. It gained only against NZD, which came under selling interest following the slide of the ANZ business confidence index (see below), while it lost ground against USD and CAD in that order...
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