GBP/USD Hits 40-Month High at 1.3600 as BoE Holds Rates at 4.25%
Key Points
- The British pound is gaining ground despite rising unemploym...
The British pound is having a moment that would make even the most stoic trader crack a smile. While unemployment climbs to 4.6% and the UK economy shows more warning signs than a construction zone, the Bank of England is sitting tight with interest rates at 4.25%, apparently believing that inflation is like that house guest who says they're leaving but never actually does.
When Central Banks Play Hard to Get
The BoE's decision to keep rates steady despite rising joblessness has created what economists politely call a "disconnect" - which is finance speak for "nobody knows what's happeni...
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