Comments: 

A slightly better day for sterling as the Bank of England decided not to increase the amount of money it made available for quantitative easing at this moment in time. By the end of this month £125bn will have been pumped into the system so as to increase liquidity and the BoE really wants to see the benefits and hopefully “green shoots” of their efforts so far before committing even more. So Augusts BoE meeting will be interesting and I suspect sterling will come under pressure in the lead up to it as clearly the market is viewing further quantitative easing as a reason to sell sterling

Note:  All rates are mid market inter bank and indicative at the point of publication. 

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