Pound continues to rally
Open demo account
FOREX trading implies serious risk and can result in the loss of your invested capital

Financial and commodity markets analytics

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.


The world of trading has no boundaries

IMPORTANT: Please be informed, that our services are available for Professional Clients only. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.