The Great Britain pound generally remained strong after the hawkish policy minutes of Britain’s central bank and the Federal Reserve announcement, though retreated somewhat against the euro.
The Bank of England released minutes of its September meeting yesterday and the central bank was fairly optimistic. It wrote:
Domestically, there were increased signs that the recovery was taking hold, which had been accompanied by an upward movement in sterling market interest rates. The GDP data for the second quarter had been revised up, and survey indicators of activity had been upbeat.
Moreover, the bank revised its growth forecast for the third quarter of this year to 0.7 percent from 0.5 percent in the August projections. All Monetary Policy Committee members voted in favor of leaving policy unchanged.
Of course, the pound also reacted to the Fed announcement. All currencies were soaring after the US central bank refrained from trimming its monetary stimulus.
GBP/USD traded at 1.6127 as of 1:23 GMT today after surging from 1.5901 to 1.6142 yesterday. GBP/JPY advanced from 158.08 to 158.32. EUR/GBP was near 0.8380 on today’s trading session after dropping from 0.8395 to 0.8371 on yesterday’s session.
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