GBP/USD surges after BoE's unanimous pivot catches markets off guard

GBP/USD rallied nearly 1.3% on Thursday, climbing back above the 1.3400 handle to close around 1.3430 in a session defined by broad US Dollar weakness and a hawkish Bank of England (BoE) surprise. GBP/USD rallied nearly 1.3% on Thursday, climbing back above the 1.3400 handle to close around 1.3430 in a session defined by broad US Dollar weakness… GBP/USD rallied nearly 1.3% on Thursday, climbing back above the 1.3400 handle to close around 1.3430 in a session defined by broad US Dollar weakness and a hawkish Bank of England (BoE) surprise. Cable rallied back above 1.3400 and tested the 50-day EMA after a surprisingly hawkish 9-0 vote to hold rates.The BoE held rates at 3.75% in a unanimous 9-0 vote, far more hawkish than the expected 7-2 split. Markets are now pricing in two BoE rate hikes this year as inflation projections get revised sharply higher.The Fed held rates on Wednesday, still projecting one cut this year, but February PPI came… For traders, the practical value is less about the headline alone and more about how it changes context, sentiment and the quality of the next decision. Watch follow-through, not just the first reaction: liquidity, volatility and confirmation across related assets usually tell the real story.