The Great Britain pound regained its strength today after yesterday’s decline as Forex traders looked at the Bank of England bonds purchasing program more favorably, regaining confidence in Britain’s currency.
The BoE announced yesterday that it’s expanding its asset purchase program. The European Central Bank followed the BoE with boosting bonds purchases, but the reaction of Britain’s currency on the monetary decision was completely opposite to the reaction of the euro. While the European shared currency profited from the stimulating measures of the ECB, the sterling tumbled after the UK central bank announced its decision. The actions of both the ECB and the BoE helped to alleviating traders’ fears, though, and today the pound felt itself better.
GBP/USD climbed from 1.5442 to 1.5540, while GBP/JPY jumped from 118.45 to 119.12 today as of 11:55 GMT.
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