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This guy, Ian Alexander McCafferty might decide pound's movement today. He might have the biggest potential to move pound today.
For those, who are not so familiar with him, he is a British economist, currently serving in Bank of England's (BOE), Monetary Policy Committee (MPC). More importantly he is the only vocal hawk in BOE's MPC committee.
Bank of England (BOE) is scheduled to announce monetary policy decisions at 12:00 GMT today. With weakness in economic dockets such as industrial activity, wage growth and inflation, weakness stemming from turmoil in China, Bank of England (BOE) is largely expected to sound dovish. Though, it might exert downward pressure on Pound, most of it is priced in.
So real crux is, what will Mr. McCafferty would do - retrace back on inflation and rate hike expectations like he has done before too. In 2014, he and fellow member, Martin Weale has been calling for rate hikes immediately before retracing as economy weakened.
So, Pound will be looking at Mr. McCafferty for cues. No other hawk is expected to be on board. However if a dove emerges, such as chief economist Andy Haldane, then Pound could dip sharply.
Pound is currently trading at 1.441 against Dollar.
