Pound continues to rally
Published on 18.07.2016 21:45

The pound continued to rally today, following from last week’s gains after the Bank of England surprisingly kept interest rates on hold.

At 7.33pm (GMT) the British currency was trading at US$1.3263 up from US$1.32.00 in Friday’s close.

BOE’s monetary policy maker Martin Weales noted today that although Brexit has created some uncertainty, he was not convinced that the central bank should take drastic steps in regards to monetary policy,

“This uncertainty points to the argument that we should wait for firmer evidence before making any policy change at least in the absence of any strong arguments for an immediate change.” he said.

Brushing off concerns that the situation was comparable to the financial crisis of 2008, he noted that consumers remain calm and he doesn’t expect a repeat performance,

 “In contrast to the experience of 2008, I do not have any sense that either consumers or businesses are panic-struck and, as I observed, there have been no material signs of financial panic.” he added.


The material published in on this page is produced by the FIBO group companies, and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Andrew Masters


The world of trading has no boundaries

Risk warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, your level of experience and preparation of taking risk. The possibility exists that you could sustain a loss of some or of all of your initial investments and therefore you should not risk more than you are prepared to lose. Please seek independent financial advice if necessary.

Important notice
By clicking "Continue" you will be redirected to the website operated by FIBO Group, LTD company registered in BVI and regulated by FSC. Please familiarize yourself with the Customer Agreement through the link. Click "Cancel" to remain on this page.