Sterling Slips 0.2% to 1.3353 as BOE Holds Rates Steady at 3.75%

Deep News
5 hours ago

The British pound edged down 0.2% against the U.S. dollar, trading at 1.3353, following the Bank of England's decision to keep its key interest rate unchanged at 3.75%.

Alongside this move, the central bank scrapped its existing long-term government bond sale program and confirmed it will complete the rundown of its £488 billion bond portfolio by September 2034.

The USD/CAD pair remained essentially flat, though the Canadian dollar had earlier slipped to its weakest level in over a month. Meanwhile, the euro gained 0.1% to reach 1.1475 against the greenback, supported by eurozone inflation data for August that came in below the initial estimate, despite the revised figure still marking a five-month high.

In Asia, the dollar dipped 0.1% versus the yen, settling at 156.05.

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