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Currency update: BoE holds fire; euro and pound advance

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The Bank of England voted 8 to 1 on Thursday to to maintain its benchmark interest rate unchanged at 0.5%, against market expectations of a 25 bps rate cut. The pound and the euro reacted with advances. In Asia, the safe-haven yen has extended its decline following a better than expected Chinese GDP data wich has boosted investors sentiment. EUR/USD: spikes up to 1.1170 after BoE: The euro jumped to a fresh 10-day high at 1.1170 after the unexpected BoE decision to pull back shortly afterwards, although it was contained above the 1.1100 level. At London market opening times, the EUR/USD is trading at 1.1125.http://www.kantox.com/en/kantox-currency-update-boe-holds-fire-euro-pound-advance/
posted in Euro by Lucille Conde Jul 22,2016 01:31 am