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The euro received a nice boost from the Fed last night but can it keep up the momentum before Mario Draghi’s announcement?
GBP/USD awaits BoE meeting
The pound is trading at $1.6177. Sterling received a shot in the arm on the back of the Fed’s commitment to low interest rates for an extended period. However, traders are now looking to the BoE interest rate decision and statement at 12pm (London time). Mark Carney recently stated that interest rates in the UK will rise in the second half of 2015. If he reiterates that point today, the pound could hit $1.6240 with $1.6066 acting as support. If Mr Carney hints that interest rates will remain low for a prolonged period, it could drift back to $1.6.