Hawkish BOE Prompts a Sterling Surge
After a hawkish report and rate decision from the Bank of England, sterling has taken a bit of a lift against a basket of currencies. Here, Jeremy Naylor looks at EUR/GBP and GBP/USD to illustrate the move up in the pound.
The BoE announced that, of the nine members on the Monetary Policy Committee, two voted in favour of a rate rise immediately while the other seven contributed to the statement that the UK central bank should begin looking at the possibility of raising rates sometime in the 'coming months'.
--- Written by Jeremy Naylor, DailyFX
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