---
title: Daily Market View 06-02-2026
description: Pound rises after significant losses due to BoE's dovish vote split, hinting at potential rate cuts in March
---

[FX News | Caxton Daily Market View ](https://caxton.io/fx-news)

# [Daily Market View 06-02-2026](https://caxton.io/fx-news/daily-market-view-06-02-2026)

 Written by [David Stritch](https://caxton.io/fx-news/author/david-stritch) | Feb 6, 2026 9:57:02 AM

## Pound Rises After Significant Losses Following BoE Votes

 

GBP-

If you were one of the cherished who read my FX street article [GBP/EUR rich heading into BoE](https://www.fxstreet.com/analysis/gbp-eur-rich-heading-into-boe-202602041513), you would have known to be careful holding onto GBP trades ahead of the BoE yesterday. For GBPEUR to be hitting a 6 month high in a pretty arid news environment was strange enough, but it was built entirely on the assumption of a strongly hawkish BoE.

Anything less than this would have ruined GBP's recent strength, although I admit, even I didn't expect just how badly this bet would go. MPC members voted 5-4 to hold rates steady, much tighter than the 7-2 expected, only for Bailey to then come out and suggest cuts coming much quicker than expected. 

This has all precipitated a near 1% decline in GBPEUR and a similar drop in GBPUSD, with GBP only just improving as the double shock of the PM being buffeted by the Mandelson revelations and the BoE starts to cool.

Markets Today

*Please be aware the below rates represent the market rate at 8:00 AM, contact your Caxton dealer or check online for a live quote.

## Today's Economic Calendar

**Major Economic Releases (All times in GMT)**

 No major releases.

 

 

 

[View full post](https://caxton.io/fx-news/daily-market-view-06-02-2026)

```json
{
  "@context" : "http://schema.org",
  "@type" : "BlogPosting",
  "author" : {
    "@type" : "Person",
    "name" : "David Stritch"
  },
  "dateModified" : "2026-02-06T09:57:02.763Z",
  "datePublished" : "2026-02-06T09:57:02Z",
  "headline" : "Daily Market View 06-02-2026",
  "image" : {
    "@type" : "ImageObject",
    "height" : 1152,
    "url" : "https://26106578.fs1.hubspotusercontent-eu1.net/hubfs/26106578/A%20-%20Caxton%20Website%20Images/FXNews-DailyMarketView-Banner.png",
    "width" : 2048
  },
  "mainEntityOfPage" : "https://caxton.io/fx-news/daily-market-view-06-02-2026",
  "publisher" : {
    "@type" : "Organization",
    "logo" : {
      "@type" : "ImageObject",
      "height" : 60.0,
      "url" : "https://resources.caxton.io/hubfs/Hero_Currency_Outlook_O_David__Red_Backround_1000x800.png",
      "width" : 75.0
    },
    "name" : "FX News | Caxton Daily Market View"
  }
}
```