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Initial reaction

BOE
  • Gilt futures hit a low of 100.34 from around 101.07 pre-meeting (now trading around 100.58 at writing so around 50 ticks lower).
  • GBPUSD up from 1.2665 to 1.2713 (just under a 50 pip move higher).
  • Would probably sum this up as a relief rally (relief selloff for gilts) with UK markets having got a bit overexcited after this week's UK data and the Fed last night.

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