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“You will see prompt action from the BoE again when we need to take it,” the Bank of England’s (BoE) new governor Andrew Bailey told BBC news on Monday. 

“The move by central banks is a strong signal of coordination,” Bailey added, per Reuters. “We will see what effect of swap lines will be in the coming days. We are very keen to ensure long-term economic damage from coronavirus is minimised.”

GBP/USD reaction

The British pound largely ignored these comments and the GBP/USD pair was last seen trading at 1.2282, adding 0.05% on a daily basis.

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