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7 Aug 2014
EUR/GBP steady as BoE offers no surprises
FXStreet (Córdoba) - The EUR/GBP rose a few pips but remained broadly unchanged within its daily range after the Bank of England decided to keep its rate and QE unchanged.
The BoE left the interest rate at 0.5% and the QE program at £375 billion as expected, so the pound was unimpressed. The EUR/GBP however, managed to move off daily lows and climbed to the 01.7940 area where it is currently trading, virtually unchanged on the day.
Now attention turns to the European Central Bank which will issue a statement at 11:45GMT followed by Draghi’s conference at 12:30GMT.
The BoE left the interest rate at 0.5% and the QE program at £375 billion as expected, so the pound was unimpressed. The EUR/GBP however, managed to move off daily lows and climbed to the 01.7940 area where it is currently trading, virtually unchanged on the day.
Now attention turns to the European Central Bank which will issue a statement at 11:45GMT followed by Draghi’s conference at 12:30GMT.