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GBP/USD hits fresh high after BoE FSR

FXstreet.com (Córdoba) – The GBP/USD picked up fresh momentum and extended gains to a new high during the European session amid a weaker USD and BoE Financial Stability Report.

After pausing around 1.6345 renewed buying emerged taking the GBP/USD to its highest level since Jan 2. The BoE announced it will end mortgage incentives as UK housing momentum is expected to continue and instead is now focusing the scheme on benefiting the small business sector. These announcements worked as catalyst for the Cable jump, which reached a fresh high of 1.6353 in recent dealings. The GBP/USD is currently trading …read more