DailyFX: "Aside from the Congressional testimony from Fed Chairman Ben Bernanke, Wednesday is also a big day for the British pound (GBP). The Bank of England (BoE) will be releasing the minutes from the very first meeting led by new central bank Governor Mark Carney. As the new BoE Governor, Carney has made transparency a priority for the central bank.
The minutes will give us a better sense of his overall degree of dovishness. Carney's decision to release a more detailed monetary policy statement after the last meeting raised skepticism about the strength of the UK recovery that was later validated by weaker industrial production and trade figures.
In particular, we will be watching the tally of votes. Former BoE Governor Mervyn King voted in favor of more asset purchases at his final meeting, and if Carney does the same, we could see a renewed selloff in GBPUSD because this would serve as a reminder of the BoE's dovishness.
If Carney votes for steady policy, however, GBPUSD could soar, as this would leave the Monetary Policy Committee (MPC) less dovish as a whole."
Full story
