Pound Tumbled Against Dollar after BoE Releases

The Pound Euro (GBP/EUR) exchange rate is ticking higher for a fourth straight session on Friday.

The Pound pushed higher in the previous session following a slightly more hawkish BoE.

The central bank kept monetary policy on hold. However, the BoE set out a plan to wean the economy off stimulus with modest tightening over the coming 2-3 years.  The bar for reversing QE was lowered to 0.5%.

The central bank also raised its inflation outlook to 4% by the end of the year.

The Euro traded quietly on Thursday amid a light economic docket. Today German industrial production numbers will be in focus. Analysts predict a 0.5% MoM rise in June following a 0.3% decline in May.