FX.co ★ Pound Drops After BoE Decision

The Bank of England hiked its key rate by 25 basis points to 0.75 percent from 0.50 percent, as expected. Following the decision, the pound fell against its major counterparts.

The pound was trading at 1.3132 against the greenback, 155.86 against the yen, 1.2350 against the franc and 0.8411 against the euro around 8:04 am ET.