British Pound Falls as BoE Cuts Economic Forecast, Euro Pares August Rally
Dovish rhetoric from the Bank of England weighed on the British Pound, with the exchange rate extending the previous day’s decline to reach a low of 1.5666 during the European trade, but the overnight decline appears to be tapering off as price action hold above the 20-Day SMA at 1.5603.
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Peso slightly stronger ahead of Fed meeting
THE EXCHANGE rate barely moved yesterday from the previous days closing as the market took a cautious stance ahead of the US Federal Reserves monetary policy pronouncement.
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Tags: August, British, Cuts, Economic, Euro, falls, Forecast, Pares, Pound, rally
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