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Pound climbs vs dollar on BoE decision

2009-11-05 18:18:26
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The British pound climbed back against the dollar in European trade Thursday, boosted from BoE decision to kept rates unchanged.

It jumped to a 13-day high of 1.6612 after the Bank of England decided to retain the official Bank Rate paid on commercial bank reserves at 0.5% and also raise its asset purchase scheme by GBP 25 billion to GBP 200 billion.

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The cable thus advanced more than 2 percent from Tuesday's 8-day low of 1.6264 and also compared with yesterday's close of 1.6556. The next upside target for the pair is seen around the 1.665 level.
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