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The Bank of England has announced a surprise 50 basis point rate cut from 0.75% to 0.25%. The Monetary Policy Committee has left the bond-buying scheme unchanged at £435 billion. 

GBP/USD has dropped from around 1.2935 to a low of 1.2830 before bouncing. 

more to come

GBP USD falls BOE surprise rate cut March 11

 

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