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Aug 06 - 03:55 AM

GBP/USD - Rises To Five-Month High After Unchanged BoE MPA

By Rob Howard  —  Aug 06 - 02:25 AM
  • Cable rises to 1.3184 after BoE keeps monetary policy unchanged by 9-0 votes

  • See: nL8N2F81TQ. 1.3184 is high since March 9 (1.32 was high that day)

  • BoE: Negative rates at this time could be less effective nL9N2DP020

  • BoE upwardly revises its 2020 UK GDP forecast to -9.5% from -14% in May

  • 1.3160 (Wednesday's high) is now a GBP/USD support level

  • The retreat from Wednesday's high based at 1.3108 (Tuesday's high)

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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