Analyst: Bank of England's hawkish committee member reiterates inflation concerns, pound reacts flatly.

On November 13th, Jin10 data reported that analyst Justin McQueen stated that Man, a member of the Central Bank’s monetary policy committee, insisted on a hawkish stance and reiterated that service sector inflation is still tricky, while also believing that there are upward risks to inflation-driven factors. Considering that this Intrerest Rate maker was the only dissenter at the November meeting and voted to keep the bank’s Intrerest Rate unchanged, this may not be surprising. Despite hawkish comments, the impact on the pound is not significant because Man’s super-hawkish stance is only a minority view in the monetary policy committee. At the same time, the greater risk is the dovish repricing, rather than the hawkish repricing, as the market expects only 56 basis points of interest rate cuts in the next 12 months. That is to say, data will continue to guide the prospects of the Bank of England, and the most noteworthy is the UK CPI report next week (November 20). On the technical side, the Closing Price below the 200-day moving average makes the pound against the US dollar vulnerable to deeper setbacks, opening the door to test the summer lows of 1.2666 and 1.2615.