MORE FED'S WALLER: DESPITE MY SUPPORT OF RATE HIKES, I AM NOT SUPER HAWKISH; WE DON'T NEED TO AGGRESSIVELY CLAMP DOWN ON THE ECONOMY

Federal Reserve Governor Christopher Waller said he supports rate hikes but does not consider himself super hawkish, arguing that the central bank does not need to aggressively clamp down on the economy. The remark is a signal of policy restraint from a Fed official, which typically narrows expectations for the pace and magnitude of further tightening rather than altering the direction of policy. For sterling, the transmission runs primarily through the interest rate differential: a less aggressive US path weakens the relative yield advantage of the dollar, which can support GBP/USD if Bank of England policy expectations remain firmer. Gilts and short-dated sterling rate futures are the most directly exposed instruments, as traders reprice the BoE-Fed spread. The next catalyst to watch is the US core PCE inflation release, since a softer print would reinforce Waller's dovish-leaning tone and sharpen the sensitivity of sterling to the rate differential.

The British Pound (GBP) reacts sharply to Bank of England Monetary Policy Committee decisions, UK CPI and GDP releases, Gilt yield moves, and domestic political events. Cable (GBP/USD) is one of the most news-sensitive forex majors.

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