As expected, BoE keep interest rates on hold at their historic low of 0.5% amid fears over a possible UK exit from the European Union. Rumours of two members of the MPC calling for a rate cut were false. As a result, GBPEUR dropped from 1.2570 to 1.2530 in the build-up but has now recovered to 1.2550.
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85 months is now the longest time without a change in interest rates from the bank of England. It is almost certain they will not make any moves before the referendum in June.
Sentiments from this morning remain as the Dollar continued its rebound and the commodity currency remain strong.
Latest FX news by Michael Hart