Learning point from BoE's Saunders: When a hawk turns into a dove
Learning point this am which we shouldn't let pass.
When a hawkish board member makes a dovish comment
This is what happened earlier. Bank of England's Saunders is a hawk, but his comments about not delaying a necessary rate cut because of Brexit were dovish. See here for his earlier comments.
The reactions in the GBP were instant.