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Mystery Pound Trading Before BOE Decision Wasn’t First, WSJ Says
A sudden move in the British pound before last month’s Bank of England decision wasn’t a unique occurrence, according to the Wall Street Journal. The pound shot up on Jan. 30 just before officials surprised markets by announcing they had voted 7-2 for no change to policy, even though many had been expecting a close decision or a rate cut. Trading volume data show there was also an unusually high level of activity in the currency before the prior month’s interest-rate decision, the Journal said. The Financial Conduct Authority said it is looking into unusual activity ahead of the Jan. 30 decision but an FCA ... (full story)
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