XE Market Analysis: Sterling Weakens After BoE Meeting

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OVERVIEW

  • Sterling falls against the US Dollar and the Euro following BoE meeting.
  • US Dollar strengthens against a basket of currencies as trade tensions flare up.
  • The Euro remained stable today as focus on BoE.

HIGHLIGHT

Sterling falls against the US Dollar and the Euro, despite a 25bps rate hike from the BoE. BoE Governor Mark Carney reiterated further hikes would be limited and gradual and cited concern about the risks of Brexit.