Pound Rebounds vs. Dollar, Falls vs. Other Major Rivals

The Great Britain pound bounced against the US dollar after yesterday’s drop. The currency declined against other major rivals, including the euro, as the monetary policy decision of Britain’s central bank continued to weigh on the sterling.

Yesterday, the Bank of England kept its interest rates and the size of asset purchase program unchanged. The accompanying statement was considered to be rather dovish by market participants, resulting in weakness of the pound. Now, traders wait for next week’s economic releases, the most important of them being the inflation report, employment data and retail sales.

GBP/USD rose from 1.5159 to 1.5213 as of 17:05 GMT today. Meanwhile, EUR/GBP gained from 0.7215 to 0.7232, touching the daily high of 0.7250.

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