EUR/GBP Enters Death Spiral as BOE Stands Pat
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Today the Bank of England said in a meeting that it will leave its monetary policy unchanged. The central bank's key lending rate remains at a record low 0.5%. The BOE also left the size of its asset-buying program unchanged at 325 billion pounds ($523.2 billion).
Meanwhile, the exchange rate between the Euro and the British Pound broke multi-year lows after contagion fears gripped Spain this week and traders digested news that Greece might leave the eurozone.
ETF traders can play the action using a combination these two ETFs, CurrencyShares British Pound Sterling Tr (NYSE: FXB) (GBP/USD) and CurrencyShares Euro Trust (NYSE: FXE) (EUR/USD).
Meanwhile, the exchange rate between the Euro and the British Pound broke multi-year lows after contagion fears gripped Spain this week and traders digested news that Greece might leave the eurozone.
ETF traders can play the action using a combination these two ETFs, CurrencyShares British Pound Sterling Tr (NYSE: FXB) (GBP/USD) and CurrencyShares Euro Trust (NYSE: FXE) (EUR/USD).
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