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The British Pound strengthened against the Greenback, following The UK Official Bank Rate release. The GBP/USD currency pair gained 44 pips, or 0.34%, before it retreated to continue fluctuating in the 1.3107 area.
The Bank of England published the information how they voted about the decision to change the rate from 0.50% to 0.75%. MPC Official Bank Rate Votes came more in favour of a hike than expected, in other words, nine votes in favor of a hike compared with seven votes forecasted by the market.
The Bank of England in minutes from the meeting says : "A 0.25 percentage-point increase in bank rate was warranted at this meeting to return inflation sustainably to the target,"
| Historical Data Table: UK Official Bank Rate | Economic Calendar for 03.08.2018 | ||||||||
| Date | 08.02.2018 | 22.03.2018 | 10.05.2018 | 21.06.2018 | 02.08.2018 | 12:30 PM | US Average Hourly Earnings |
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| Actual | 0.50% | 0.50% | 0.50% | 0.50% | 0.75% | 12:30 PM | US Non-Farm Employment Change | ||
| Forecast | 0.50% | 0.50% | 0.50% | 0.50% | 0.75% | 12:30 PM | US Unemployment Rate | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.30831 | 1.31146 | 0.24% | GBP/USD | 67.12% | 32.88% | |||
| EUR/GBP | 0.88824 | 0.88614 | -0.24% | EUR/GBP | 27.58% | 72.42% | |||
| GBP/CAD | 1.70462 | 1.70874 | 0.24% | GBP/CAD | 71.43% | 28.57% | |||
| GBP/JPY | 145.818 | 146.182 | 0.25% | GBP/JPY | 57.27% | 42.73% | |||