GBP/USD licks its wounds at 1.3500 after plummeting 200 pips on dovish BoE
The GBP/USD is steady as the Asian Pacific session kicks in, up 0.04%, trading at 1.3503 during the day at the time of writing. The market sentiment is upbeat, as the Federal Reserve said it would begin the bond tapering process, reducing purchases by $15 billion in the middle of November while pushing back higher interest rates.
Gold prices rally as Fed begin tapering, GBP/USD sinks as BoE keeps rates unchanged [Video]
Gold prices were up by as much as $30 in Thursday’s session, in the aftermath of the Wednesday’s FOMC meeting. The Federal Reserve opted to keep interest rates unchanged, however the bank decided to begin tapering its COVID-19 asset purchasing program.
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