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Sterling jumps initially on BOE surprise but gains look limited

The BOE went and did it, delivering a "surprise" 50 bps rate hike today. To be fair, markets had already priced in a near coin toss ahead of it so this isn't that shocking. Nonetheless, it's one that is causing a bit of a stir across broader markets and sterling had benefited from it - at least initially.GBP/USD moved up from 1.2780 to a high of 1.2835 before settling around 1.2800 just minutes after the decision. (Update: It is now falling to 1.2750 on the day)Now, there are a couple of things... Read More

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Content Topics

Sterling

Jumps

Initially

Surprise

Gains

Look

Limited

Forex

Posted: Jun 22 2023, 11:16

Author Name: forexlive

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