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GBP/USD bulls take on the bears and eye 1.40 area and BoE
GBP/USD is trading at 1.3930 and up nearly 1% having climbed from a low of 1.3786 to a high of 1.3934. The pound has recovered from its lowest level versus the dollar since April as the greenback corrects after the US Federal Reserve surprised the market with a hawkish hold last Wednesday. The Fed has brought forward the prospects of the timing of an interest rate hike and end emergency bond-buying. This has put the focus on the Bank of England that announces its latest decision at 12:00 BST on Thursday 24 June. There will be no new forecasts this time, and policy changes are unlikely. However, a more optimistic ... (full story)