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The JPY is the strongest and the GBP is the weakest as the North American session begins

The JPY is the strongest and the GBP is the weakest as the North American session begins. The Bank of England (BoE) hiked interest rates by 25 basis points (bps), moving the bank rate to 5.25%. The decision was in line with expectations although there were some expectations for another 50 bp hike which makes the move a dovish. The price of the GBPUSD had been moving lower into the decision and is still lower by around 0.50% on the day. The Monetary Policy Committee (MPC) voting 8-1 in favor of... Read More

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Posted: Aug 3 2023, 12:09

Author Name: forexlive

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