FXStreet – The Scotiabank analysts declare that the UK data today on three fronts disappointed.
“Industrial production fell in March, reflecting the weakness in the manufacturing sector. The construction output fell -0.7%, more than expected (after -1.3% in February). The trade deficit increased to -13.4 bn GBP, while the forecast stood at -11.6 billion GBP.”
“The GBP fell, but the focus was on the BoE decision. The monetary policy remained unchanged as expected. With 7:1 votes that the interest rates remained at 0.25%. Since no one wanted to continue to Forbes, journeyman, the GBP came in to the trip, and although the Statement also included that the monetary policy can be sharper than the current interest rate structure curve.”
** FXStreet News Editorial, FXStreet**