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EUR/GBP also in focus today as Norway and Sweden follow the ECB move

Beyond the BOE and the SNB policy decisions today, we know what the SNB did, which was nothing and we are still waiting on the BOE of course. However, we have other European Central Banks just now making similar decisions today. Those have just come from Sweden and Norway. Both have raised their benchmark rates, as expected by 0.25%, keeping pace with the ECB last week. The outcome from the BOE later today may bear no reflection on those decisions, but perhaps it will need to. The EUR/GBP has already seen a buyer emerge in early trading this morning and that is a key pair to be mindful of later this morning, not just the GBP/USD. The EUR/GBP will also react to whatever the Bank of England decides to do. The immediate trend looks higher still and one is again reminded of a level higher up, at 0.8712. That has not come close at all yet, but if the BOE balks, then it might come onto the radar. The EUR/GBP is just now trading at 0.8653
 

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