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GBP Rises Following BoE Statement

M. Ali 6 August, 2020 7:23 pm Forex Market, Market Update

The British Pound (GBP) is rising across the board after the Bank of England (BoE) has decided to maintain interest rates and keep its monetary policy unchanged.

The UK central bank has also vowed to adapt its policy to the market conditions, revealing that negative rates remain a possibility.

The GBP is up against the US Dollar (USD) by 0.21%, with the GBP/USD trading at 1.3140, after trading earlier as high as 1.3186, nearing its highest level in 2020.

GBP/EUR rose by 0.34% at 1.1090, while the GBP/CHF is up by 0.47%.

The GBP is also up by 0.10% against the Japanese Yen (JPY), trading at ‪138.631.

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