9/28/2022, 9:21 PM (Source: TeleTrader)
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Dollar down 1.5% against pound, euro after BoE move

The United States dollar fell by over 1.5% against both the euro and the British pound on Wednesday after the Bank of England decided to intervene in the United Kingdom government bond market earlier in the day.

The BoE bought £1.03 billion worth of UK bonds in a reverse auction as part of its plan to keep purchasing long-dated gilts from today until mid-October.

The euro gained 1.44% against the American currency, changing hands for 0.97313 at 3:19 pm ET. The British pound increased by 1.42% compared to the dollar, going for 1.08851 at the same time. The greenback lost 0.45% against the Japanese yen, trading at 144.119 a minute later.

Baha Breaking News (BBN) / MS