Thursday, March 5, 2009

Bank of England (BOE) cuts interest rates.

Short GBP/USD at 1.4060 after the Bank of England interest rate announcement. Anticipating the prices to drop drastically after the initial volatility but only managed to gain 2 pips due to tight Trailing Stop.

BOE decisions to cut interest rate were in line with market expectation. The questions is now centred on BOE's policy on quantitative easing.

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