GBP Hammered After BoE’s Statement

The British pound was hit rather hard during the course of the trading session on Thursday as the Bank of England has decided not to raise interest rates.

Although the market had been trying to price in some type of hike, the question now is whether or not 1.35 can hold the line?

Markets are gearing up for a possible rate rise, which until a few weeks ago appeared very unlikely to take place this year.

But after Bailey and other fiscal policymakers made their intentions clear that action will be required to curb rising inflationary risks.

Jobs number are to be released on Friday, so a lot of noise is anticipated, but investors are still looking for some type of signal to get long of this market. The market is likely to see uneven behavior over the next 24 hours as traders eye the jobs figures.