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GBP Keeps Bleeding, BoE and Norges Bank Stand Pat, Riksbank Hikes


Yesterday, the BoE kept is policy and forward guidance unchanged, with the pound gaining around 80 pips at the time of the release. However, the currency was quick to give back those gains and to trade even lower, underperforming again all the other G10 currencies, due to fears of a hard Brexit in December next year. Elsewhere, the Riksbank hiked rates to zero and noted that they will stay there in the coming years, while the Norges Bank stood pat, reiterating that the rate will most likely remain at the current level in the coming period.

Pound Erases BoE Gains, as Brexit Fears Remain

The pound kept tumbling on Thursday and during the Asian morning Friday, underperforming once again all the other G10 currencies. The British currency lost the most ground against NOK, JPY and NZD in that order, while it underperformed the least against CAD.

Yesterday, we had a BoE policy decision. The Bank once again voted to keep interest unchanged at 0.75% via a 7-2 vote, with MPC members Haskel and Saunders maintaining their votes with...

Read the full financial markets daily report on JFD Research.

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Source: https://www.jfdbank.com/en/research/gbp-keeps-bleeding-boe-and-norges-bank-stand-pat-riksbank-hikes-20191220
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