Breaking: GBP/USD dumps 50 pips on BoE rate cut to negative reports

FXStreet Team FXStreet

The Bank of England is said to be mulling a controversial move into negative rates, as written in the UK's Telegraph.

More here: BoE said to be mulling a controversial move into negative rates

The subsequent reports from the UK's Sun that the BoE will move to - GBP150B of QE have triggered the stops on the short term charts.

GBP/USD reaction

Meanwhile, the Bank of England's forecasts are now certain to give new macro forecasts will a sharp deterioration in their analysis compared to the upbeat view on the recovery in August, potentially even harbouring a view of a negative print for the fourth quarter Gross Domestic Product print.

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