BREAKING: GBPUSD jumps as BoE boosts QE target

12:05 PM 18 June 2020

Bank of England announced its latest policy decision at 12:00 pm BST. The Bank left rates unchanged as expected but decided to boost the target for bond purchases by 100 billion GBP, to 745 billion GBP. Such a move was rumoured for a few days. Nevertheless as rumours became reality, the British pound caught a bid. GBPUSD surged around 0.4% on the announcement. The Bank also said it is ready to act further in case the economy needs it.

GBPUSD tested the 1.2550 mark after the Bank of England announced a boost to bond purchases. Source: xStation5

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