Cable bounces back after the Bank of England

<p>In the days leading up to the Bank of England announcement, you could see the tide shifting away from 50 bps. The RBA <a href="https://www.forexlive.com/centralbank/rba-leaves-the-cash-rate-unchanged-at-410-20230704/" target="_blank" rel="follow">announcement</a> and dipping European data added to the momentum.</p><p>We're seeing something of a 'sell the rumor, buy the fact' trade in cable as it now bounces into the London fix.</p><p>On the day, the pound is now down just 6 pips to 1.2702.</p>

This article was written by Adam Button at www.forexlive.com.