FCA Probes Jump In Pound Ahead Of Interest Rate Decision

Law360, London (January 31, 2020, 11:48 AM GMT) -- The Bank of England said Friday it has asked the top financial markets regulator to look into a series of large trades that moved the pound seconds before it made its latest interest rate announcement.

The City watchdog has confirmed it is “looking into” a series of large trades that moved the pound just before the Bank of England made its interest rate announcement. The value of sterling jumped approximately 15 seconds before midday on Thursday, when the central bank’s Monetary Policy Committee announced it was holding interest rates steady at 0.75%. Sterling rose from $1.3023 to $1.3089 against the dollar, before...

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