GBP/USD: The pair made a short bullish burst scaling as high as 1.2417 as B.O.E. initially kept its policy decisions unchanged. This move was further supported by a broad market risk appetite. But B.O.E. Gov Bailey’s comments stating that Q.E. program will increase in the near future came as blow which along with firm USD in the market caused the exchange rate of the pound to fall below 1.23 handle and stabilize around 1.228 level. Traders now await U.S. data for short term profit opportunities.
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