Pound Slumps Ahead of Central Banks’ Meetings
The Great Britain pound slumped today ahead of central banks’ meeting this week on speculations that UK policy makers will keep stimulus in place to maintain momentum of economic growth.
Bank of England policy makers will gather on August 1. The central bank released a very strong statement after the last meeting, suggesting that there likely be no additional stimulus. Such prospect boosted the sterling, which now is weakening as the comments did not promise reduction of accommodative measures either.
GBP/USD dropped from 1.5335 to 1.5241 as of 23:58 GMT today. GBP/JPY fell from 150.22 to 149.32, following earlier rise to 150.90. EUR/GBP edged up from 0.8644 to 0.8702.
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Earlier News About the Great Britain Pound:
- UK Pound Mixed After Economic Releases (2013-07-29)
- UK Pound Drops on Latest GDP Data (2013-07-25)
- Pound Ends Week on Positive Note on Hopes for Sustainable Growth (2013-07-20)
- GBP Falls vs. USD, Rises vs. JPY After Retail Sales Report (2013-07-18)
- Pound Jumps on Falling Jobless Claims & BoE Minutes (2013-07-17)