Forex: GBP/JPY retraces losses on BoE
Forex pairs in this Article »
GBP/JPY
FXstreet.com (Barcelona) - The GBPJPY retraced most of the losses seen on the London morning where it found a low at 127.23. The BoE statement that there will be no extension of the asset purchases programme in November triggered a rally back to 127.70, for now, as there were still market participants betting on monetary easing.
The QE programme remains at £375B and the bank rate was kept at 0.5%. The MPC minutes should be released on November 21, at 09:30 GMT. The market allowed a 200-pip loss already in November, from the monthly high of 129.61.
The QE programme remains at £375B and the bank rate was kept at 0.5%. The MPC minutes should be released on November 21, at 09:30 GMT. The market allowed a 200-pip loss already in November, from the monthly high of 129.61.
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