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Unlike its July meeting, the Bank of England (BoE) was forced to announce what the Governor termed as an “exceptional” stimulus on so called “Super Thursday”. However, except for the GBP, and to some extent the EUR, the rest of the currencies could only reflect a surprise addition in QE with little change as the rate-cut was already expected.
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Following the decision, the GBP registered a -1.6% plunge against its US counterpart, the most since early July, and dropped -1.5% as compared to the Euro. The pound also ... (read more)