GBP/USD jumped higher on BOE Inflation Report

Market news

11 May 2011

GBP/USD jumped higher on BOE Inflation Report

Spiked to $1.6465 on initial react to release of the BOE Inflation Report, from around $1.6420, with rate easing back to $1.6440/35 on profit take sales, rate had ben on the rise into the release, with fresh demand into the dip extending recovery to $1.6470. Resistance now seen into $1.6480 with stronger interest placed between $1.6500/10, ahead of $1.6545/50.

BOE KING: CPI remains uncomfortably high

BOE: CPI JUST ABOVE 1.9% IN 2YRS TIME ON MODAL, MARKET RATES

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