Wednesday, November 4, 2009

British Pound stronger than majors

The British pound was generally strong compared to the majors, though the action, most of the currency was at its fall versus the U.S. dollar and the Japanese yen. Apparently, the pound sterling is to remain extremely volatile next week before the Bank of England (BOE) completion rate on Thursday at 7:00 ET. The BOE is expected to maintain the same rate of 0.50%, but this will not even market influential part of the statement. Instead, traders will be looking to the BOE policy announcement. This has always been the case with most important news of the latest findings fee. Last month, the BOE showed a neutral position, they've already announced that £ 175 billion would maintain its quantitative easing (QE) program which eventually led to the pound to the streets in opposition to the U.S. dollar and the euro immediately.

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