Pound Surges After BoE Hawkish Hold; Yen Intervention Weakens Dollar
GBP/USD rallies to 1.3430 after Bank of England votes 6-3 to keep rates unchanged. Suspected Japanese yen intervention adds pressure on the US dollar across G8 currencies.
GBPUSDUSDJPY
The Bank of England voted 6-3 to keep its benchmark interest rate unchanged, a decision markets read as hawkish due to the three dissents in favor of a hike. The British pound strengthened sharply on the outcome.
Suspected intervention by Japanese authorities to prop up the yen further weighed on the US dollar, driving the greenback lower against most G8 currencies. The combined forces pushed GBP/USD up to 1.3430.
Source: FXStreet Forex News