GBP/USD stalls post Bank of England rally, but bulls eye the 1.3660's By ross_burland GBPUSD BOE Fed Currencies NFP
1.3660 could be targeted on any subsequent US dollar weakness around NFP.off its highs of the day by is still positive by some 0.23% following the Bank of England that raised interest rates to 0.5% on Thursday. Technically, there could be more to come as per the technical analysis below.
The central bank ceases reinvestment of maturing gilts and starts to unwind its stock of corporate bonds. It reaffirmed to consider actively selling gilts when Bank rate reaches 1.00%. As a consequence, cable vaulted over the psychological 1.3600 mark and printed a high of 1.3628. This was the highest level since Jan. 20. Additionally, UK gilts sold off, with the 10-year yield at its highest since January 2019.
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