The Guppy declined to 190.30 on Thursday after a downward shift in the Bank of England’s (BoE) main reference rates helped to trim the top off of the GBP/JPY’s wide interest rate differential, giving the Yen a chance to recover ground and pushing down the Pound Sterling.
GBP/JPY eased to 190.30 on Thursday following an expected BoE rate cut. The BoE trimmed interest rates by a quarter-point, while BoJ raised. After a structural shift in the Guppy’s rate differential, the GBP is declining. The Guppy declined to 190.30 on Thursday after a downward shift in the Bank of England’s main reference rates helped to trim the top off of the GBP/JPY’s wide interest rate differential, giving the Yen a chance to recover ground and pushing down the Pound Sterling.
Its key trading pairs are GBP/USD, aka ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders , and EUR/GBP . The Pound Sterling is issued by the Bank of England . How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England.
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