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Bank of England leaves rates unchanged at 5.25%- GBP/USD falls towards 1.2675

The Bank of England has just decided to leave interest rates unchanged at 5.25%. This was very much the outcome expected by the markets. The MPC (Monetary Policy Committee) voted 7-2 in favour of this and that was unchanged from last time. The GBP/USD was hovering close to the 1.2700 handle just ahead of the decision and had been held back and in check by a slightly firmer dollar today. The Pound has actually fallen back on this news and the Bank has not slightly changed its language. The GBP/USD is just now trading at 1.2687

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