The Bank of England has disappointed a few bulls 3 Aug

GBPUSD has been down to test 1.3150 and EURGBP up to test 0.9000

GBP bulls will be happy to buy dips for the moment as much as bears like me will continue to play from the short side.

GBPJPY 145.44 GBPCAD 1.6577 GBPCHF 1.2760

The Minutes did include one change:

  • MPC now expect two rather than one hike over forecast horizon

but I think the market has largely factored in a couple of hikes from previous comments

Carney presser coming up at the bottom of the hour. It will be the Q&A that sparks any further reaction.

Watch it live here