British pound remained at levels close to one-month high versus the US dollar on Thursday after Bank of England made a decision to leave base interest rate and stimulus policy intact.
GBP/USD reached 1.5467 during European afternoon trade, session high for today and highest since May 9th, after which consolidation followed at 1.5460. Support was to be received at current session low, 1.5380, while resistance was to be met at May 9th high, 1.5586.
Minutes ago, Bank of England announced its decision, regarding the course of monetary policy, leaving the base interest rate unchanged at record low level of 0.50% and also keeping the scale of asset purchases unchanged, at 375 billion GBP. This decision came after positive signals were submitted from manufacturing, construction and services sectors in the United Kingdom, as all three correspondent CIPS indicators showed an increase in value above forecasts.
It is expected Mark Carney, who stepped down as Governor of Bank of Canada last week, to take the Governor post of Bank of England on July 1st.
Pounds strength was favored by the pressure put on the US dollar after Wednesdays ADP Employment report, which said that non-farm private sector in United States added fewer than expected job positions. Expectations were diminished that economy was recovering at the necessary strong rate. Still market players await another crucial indicator, regarding economic state in the United States, the non-farm payrolls government report.
The sterling rose against the euro as well, reaching more than two-week high, with EUR/GBP lowering to 0.8481.
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