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Forex: GBP/USD spiked 1.5070 after BoE stayed put

The sterling leapfrogged more than 70 pips after the BoE left no room for surprises, leaving intact both the lending benchmark and the asset purchase programme at 0.5% and £375 billion respectively. Markets were biased towards further easing in light of the late weak developments in the UK economy and the dovish tone from the last BoE minutes.

The pair is now losing 0.14% at 1.4996 with the immediate support at 1.4965 (2013 low Mar.7) ahead of 1.4949 (low Jul.12 2010) and then 1.4873 (low Jul.1 2010).
On the flip side, a breakout of 1.5018 (high Mar.7) would expose 1.5110 (high Mar.6) and finally 1.5111 (MA10d).

UK: BoE keeps policy unchanged, rate at 0.5% and QE at £375B

The BoE has decided to keeps its monetary policy unchanged at this month's meeting that took place today. The last time the central bank added QE was on 5 July 2012, by £50B to the total of £375B. “The Bank will continue to offer to purchase high-quality private sector assets on behalf of the Treasury, financed by the issue of Treasury bills, in line with the arrangements announced on 29 January 2009 and 29 November 2011”, said the statement.
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Forex: EUR/USD holds above 1.3000 ahead of ECB

The market is soon to know about ECB's decision for March and the EUR/USD keeps steady above 1.3000, currently at 1.3020. Investors were now informed that the BoE kept things unchanged, surprising some more dovish traders.
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