Gbp/usd - 1.4153 ... The Bank of England lowered interest rate by 50 basis points to 0.50% as widely expected y'day n announced that they would start to buy assets up to 75 billion pounds. The British pound tumbled fm 1.4234 to 1.4037 after the announcement b4 rebounding to 1.4176 in Asian morning on short-covering. Some bids are noted at 1.4100/10 n 1.4050/60 with stops seen below 1.4000. On the upside, offers are reported at 1.4175/80, 1.4200 n further out at 1.4230.
Join the Discussion