Bank of Englad Cuts Rates
by John on 04/12/08 at 11:59 am
The Bank of England cut their benchmark rate by 100 bps as expected.
The result was volatility on GBP/USD:
In this 15 minutes chart, we can see the GBP/USD lost 200 pips, but then reversed and is currently on a strong uptrend. The currency pair recovered all the intraday losses, and is currently near the high of the day.
Tomorrow we can expect more volatility due to the payrolls release.
