GBP USD Erases Earlier Losses

The GBP USD has erased all of its earlier losses and is now trading higher.

The GBP USD has erased all of its earlier losses and is now trading higher. This morning the British Pound opened under pressure after a story leaked over the week-end that the Bank of England was considering expanding its asset-buyback program. Last week speculators drove up the Pound as comments from a BoE official hinted that it would end the program. Today’s action demonstrates that positive momentum is still present in the market.