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GBP Tumbles Lower on BoE Comments

posted by Avatar DailyFX 836 days ago in EUR, GBP, Fundamental

The British Pound retraced the overnight advance and slipped back below the 1.5700 level as the Bank of England lowered its outlook for growth and inflation, and the exchange rate may maintain the downward trending channel from the November high (1.6879) as the central bank expects price growth to fall back below the 2% target.
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