Forex: EUR/GBP hits 10-day high as BoE stays on hold

The pound strengthened across the board, with GBP/JPY reaching a fresh 10-day high after the Bank of England decided to keep its interest rate and the asset buying program unchanged at £375 billion. Most economists had expected the bank to stay on hold, but acknowledged that a boost to the size of the asset-buying program was a possibility.

GBP/JPY rose nearly 90 pips after the announcement and hit its highest since Feb 25 at 141.89. At time of writing, GBP/JPY is trading around 141.65/70, still recording a 0.3% gain on the day.