GBP Retreats as BoE Governor Tames Hike Expectations, Eyes on US Jobs Report

The British Pound retreated from its session highs near 1.3550 against the US Dollar during the London trading session, dipping to levels near 1.3520 and turning negative on the daily chart.

Bank of England Governor Andrew Bailey called for flexibility in monetary policy, tempering expectations of a rate hike at September's monetary policy meeting.

Bailey argued that policymakers have the responsibility to keep inflation anchored but also emphasized the need for central banks to preserve flexibility in responding to changing economic conditions.