GBP Dollar FX trader
(Action Economics) - 08-Mar-12 11:11 - Sterling was mixed on Thursday.
The currency came been under some pressure after rallying in early part of the London AM, reportedly amid heft selling by an Asian wealth fund in Cable that helped drive the pair back below 1.5800 after a two-day high of 1.5831.
Cable was back around 1.5780 by the late London AM, still net higher on the day having closed yesterday in New York at 1.5742.
The flow helped drive EUR-GBP higher, to a one-week high of 0.8384.
The BoE left both the repo rate and QE settings unchanged, as widely expected.
This left the repo rate at its historical low of 0.5%, making this month the third anniversary the rate has remained unchanged.
The QE total was left at GBP 325 bln, having been lifted by GBP 50 bln at the last meeting a month ago and with another two months left until the asset purchases have been completed.
The BoE didn't issue a statement, as is its normal practice after no-change decisions, though its press release affirmed that the scale of the QE programme will be kept under review.
The minutes to the meeting will be published in a couple of weeks time, on Mar-21.
There has been no market impact following the widely anticipated outcome.
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