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GBP/USD Rallies for Second Day, GBP/JPY Erases Gains

February 8, 2013 at 13:02 by Vladimir Vyun

Close-up of the UK pound noteThe Great Britain pound extended its rally versus the US dollar for the second day today, but erased yesterday’s gains against the Japanese yen. Yesterday, the Bank of England released its monetary policy statement, showing that the policy remained unchanged.

The BoE left the main interest rate at 0.5 percent and the asset purchase program at £375 billion. Mark Carney, the current Bank of Canada Governor and the next head of BoE, testified to the parliament yesterday. He toned down expectations for changes that should occur after he will take the lead of the UK central bank, disappointing many investors.

GBP/USD rose from 1.5712 to 1.5794 as of 13:02 GMT today. GBP/JPY dropped from 147.12 to 145.75 and its daily low was at 145.03.

If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

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