Thanks to the Bank of England, U.S. data and North Korea, it was an extremely lively day in the foreign exchange market. The big story was the BoE who voted 7-2 to leave interest rates unchanged. This decision was not a surprise and actually caused a knee jerk dip in GBP/USD but within seconds the pair reversed as the minutes showed a majority of monetary policy members seeing “scope for stimulus reduction in the coming months.” As the Bank of England prepares to join the European Central Bank and the Federal Reserve in removing stimulus this prospect has and will continue to be extremely positive for sterling. ... (full story)