The British Pound depreciated against the US Dollar, following the BoE Monetary Policy Summary release on Thursday at 11:00 GMT. The GBP/USD exchange currency rate lost 43 pips or 0.33% after the release. The Pound continued trading at the 1.2900 level against the Greenback after the release.
The Bank of England released the Official Bank Rate data, which came in line with the expectations of 0.10%.
According to the official release: "The Bank of England's Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. In that context, its challenge at present is to respond to the economic and financial impact of the Covid-19 pandemic. The Committee voted unanimously for the Bank of England to continue with its existing programmes of UK government bond and sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, maintaining the target for the total stock of these purchases at £745 billion."
| Date | 26.03.20 | 07.05.20 | 18.06.20 | 06.08.20 | 17.09.20 |
|---|---|---|---|---|---|
| Actual | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
| Forecast | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
| Pair | Open | Close | Change |
|---|---|---|---|
| EUR/GBP | 0.91049 | 0.91342 | 0.32% |
| GBP/CAD | 1.71216 | 1.70542 | -0.39% |
| GBP/JPY | 135.74700 | 135.254 | -0.36% |
| GBP/USD | 1.29602 | 1.29135 | -0.36% |
| Pair | Longs | Shorts |
|---|---|---|
| EUR/GBP | 41.5% | 58.5% |
| GBP/CAD | 70.9% | 29.1% |
| GBP/JPY | 48.5% | 51.5% |
| GBP/USD | 51.4% | 48.6% |
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