The Great Britain pound is recovering today after yesterday’s drop that followed the announcement of additional stimulus package from the Bank of England.
Yesterday, the sterling has plunged as the BoE unwrapped a huge stimulus package that included an interest rate cut and expansion of the asset purchase program. Furthermore, the central bank confirmed likelihood of additional monetary easing in the future. Yet it looks like with the recent aggressive selling the pound has found a bottom and has troubles going further down even after bad news.
GBP/USD rose a bit from 1.3104 to 1.3159 as of 11:14 GMT today. EUR/GBP fell a little from 0.8490 to 0.8472.
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