The British pound has fallen a bit during the trading session on Friday, after initially skyrocketing on Thursday due to a Bank of England rate hike.The British pound has drifted a bit lower during the trading session on Friday as we are starting to wipe out some of the gains from the interest rate decision. With the Bank of England raising interest rates on Thursday, the market looked as if it was ready to go much higher, but on Friday we already do not care. Because of this, the market is likely to continue seeing a lot of noisy behavior, but an argument can be made for the market to drift a little bit higher. However, we have seen a major “risk off” attitude around the world of the last couple of days which seems to have put a bit of a dampening on this pair.
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