More from BoE's Bailey: Moves in FX have not been moving based on interest rates
- Moves in FX have not been moving based on interest rates speculation.
- Investors are reconsidering positions.
- Uncertainties about structural changes in world economy have impacted FX.
The major FX pairs did decouple from interest rates differentials since April. Whether this is a new paradigm or just a temporary thing is still unknown.
