The pound trimmed gains against the U.S. dollar on Wednesday, after the minutes of the Bank of England’s latest policy meeting revealed a unanimous vote in favor of maintaining its monetary policy. GBP/USD pulled back from 1.5646, the pair’s highest since July 17, to hit 1.5609 during European morning trade, still up 0.33%.The minutes of the BoE’s July meeting showed all nine members of the Monetary Policy Committee were in favor of leaving the key interest rate at a record low of 0.5% and making no changes to the central bank’s £375 billion asset-purchase program. According to the minutes, a number of policymakers see rising inflation risks. BoE Governor Mark Carney said last week that the decision to raise interest rates from record lows will come into sharper focus around the end of 2015, his strongest hint yet about the timing of the British central bank’s next move.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5630 TARGET 1.5650 1.5680 SL 1.5600
SELL GBP/USD BELOW 1.5525 TARGET 1.5505 1.5475 SL 1.5555
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