Forex Traders – In for a Pound with Cable
As a new day begins, forex traders can only hope for the same volatility as last week in cable. With the Bank of England due to release minutes and vote on interest rates midweek, the pound will surely be pricing in the expected outcome prior to the news release. The BOE kept the bank rate at 0.5% and bond buy backs at a constant with inflation remaining at low levels signaling a slowdown in economic growth. The BOE outlook is not completely hawkish with rates only expected to rise to 1.25% in the new year.
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