Today is perhaps the biggest day for the pound since UK EU referendum. The BOE is widely expected to cut the official bank rate to 0.25% from 0.50% while many also expect it to come up with some form of lending and/or asset purchase program.
The stakes are high and, depending on the outcome, there could be a large reaction either way. COT report showed a record net short position last week and it may take a truly bold action by the bank to send the pair below 1.30.
The stakes are high and, depending on the outcome, there could be a large reaction either way. COT report showed a record net short position last week and it may take a truly bold action by the bank to send the pair below 1.30.