The GBP/USD exchange rate declined after the Bank of England (BoE) decided to keep interest rates at 5.25%. The accompanying statement indicated the decision was “finely balanced,” implying there was a significant risk the BoE might have opted to cut rates. The language of the accompanying statement and minutes was slightly dovish, putting pressure on the currency. The BoE referenced the August decision and how new information “affects the assessment that the risks from inflation persistence are receding,” hinting that a rate cut could be planned for August. Technical Analysis * Technical Breakout: GBPUSD was traded ... (full story)