Earlier today we had shorted GBP/NZD at 1.9582. GBP/NZD has a deep plunge after Bank of England’s announcement.
The Bank of England released slightly dovish forward guidance with its July interest rate and asset purchase decision, thereby breaking away from the usual habit of not providing reasoning for the decision until the release of the meeting’s minutes later in the month. The BoE comments noted that higher market interest rates are weighing on its economic outlook, which led to a selloff in the Pound.
We decided to close this trade. Closed GBP/NZD at 1.9212, profit is 367 pips.
GBP/NZD" width="1275" height="935" />
The Bank of England released slightly dovish forward guidance with its July interest rate and asset purchase decision, thereby breaking away from the usual habit of not providing reasoning for the decision until the release of the meeting’s minutes later in the month. The BoE comments noted that higher market interest rates are weighing on its economic outlook, which led to a selloff in the Pound.
We decided to close this trade. Closed GBP/NZD at 1.9212, profit is 367 pips.
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