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BoE accepts GBP 1.363 billion offers in bond purchase

Mohamed Abdelhamid 11 October, 2022 7:20 pm Forex Market, Market Update

The Bank of England (BoE) accepted 1.363 billion sterling of offers in the daily purchase operation of conventional long-dated bonds on Tuesday.

The BoE rejected 47.6 million GBP of offers in the same operation. The 2-year UK bond yield pushed lower with the initial reaction and was last seen losing nearly 2% on the day at 4.26%.

The British pound started to gather strength during the American trading hours. As of writing, the GBP/USD pair was trading near 1.1100, where it was up 0.4% on a daily basis.

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