The British pound has reversed directions on Thursday and posted slight gains. Currently, GBP/USD is trading at 1.3684, up 0.33% on the day. Friday will be busy, as the UK releases GDP and Manufacturing Production. It has been a light data calendar for UK events. With the markets hungry for some news, perhaps it was not surprising that the pound showed some volatility in response to reports that the Bank of England was considering implementing negative interest rates early in 2021. BoE voting member Tenreyrro stated on Monday that negative rates could provide significant stimulus to the economy and said that other central banks had shown success with negative rates. What caught the market’s attention, however, was Tenreyro’s assertion that the BoE was studying the feasibility … [Read More...]