GBPEUR/GBPUSD

Following from last week, the Pound remained lower against the U.S Dollar, trading back under $1.58, after the Bank of England decided to maintain emergency stimulus measures at the current level and keep interest rates at a record low of 0.5%. The UK currency actually declined against 13 out of the 16 most actively traded currencies, after a report showed that UK house prices continued to fall in November.
Although the UK economy has shown a somewhat remarkable resilience over the past quarter, the key components are beginning to slow. Manufacturing unexpectedly accelerated to the fastest pace in 16 years, while consumer confidence slipped to a 15 month low following the severe public spending cuts. The decision from the Bank of England was widely anticipated and should be fairly neutral for the Pound.... read more