GBP/USD fluctuates around 1.0750 as the BoE’s intervention in the bond markets easied worries – by christianborjon GBPUSD Majors Macroeconomics BOE Bonds
At the time of writing, the GBP/USD is trading at 1.0748, above its opening price amidst a volatile trading session, after hitting a daily high/low of 1.0837/1.0537 as concerns over the UK economy increased.
The result of the BoE’s intervention helped to drop yields in the 30-year bond rate falling 100 bps or 1 one percent, its most significant drop dating back to 1992. At the same time, the GBP/USD has recovered some ground so far, though it would likely remain fragile unless the government calms investors.
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