The GBP/USD collapses after the Bank of England’s decision to raise the Bank Rate by 50 bps to the 4% threshold. Economic data revealed in the United States (US) reassured the tightness of the labor market, meaning that the US Federal Reserve, albeit hiked rates 25 bps on Wednesday, still has ways to go. At the time of typing, the GBP/USD exchanges hands at 1.2280 after hitting a high of 1.2401. Read More…
The GBP/USD pair jumps after the Bank of England announced its policy decision, albeit quickly retreats to a fresh daily low, below the 1.2300 round-figure mark in the last hour. Read More…
The GBP/USD pair struggles to capitalize on its modest intraday uptick and attracts some sellers near the 1.2400 round-figure mark on Thursday. The pair retreat to the lower end of its daily range during the first half of the European session and is currently placed just above the mid-1.2300s as traders look to the Bank of England (BoE) policy decision. Read More…
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- Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-plummets-below-12300-post-boes-decision-202302022050