The perhaps, not so eagerly awaited monetary policy decision from the Bank of England has just been announced. That was mostly because no one expected much to come out of this event and certainly no change in policy from the BOE. Indeed 61 out of 73 experts surveyed advocated such an outcome. Ahead of this the GBP/USD had managed to print a trade or two at the 1.2200 handle once more, but it was a real grind to get it there. The pound was hovering just below that session high as the decision approached. The reaction to the news has actually seen the GBP/USD rise above 1.22 which might be a surprise to some and probably due to the 6-3 voting split. However, the move is by no means conclusive at this stage. The other reason for the move seems to stem from some relatively hawkish comments accompanying this outcome. The GBP/USD is just now trading at 1.2210
Dollar drops back as EUR/USD and GBP/USD lift towards session highs
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The important US number on the radar for the USD/JPY later today
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Brent lifts above $79 again on Kremlin comments
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