Sterling gives up gains after BOE's decision

Sterling weakens after BOE's decision

The British currency, the sterling, gave up gains today following the Bank of England's decision in keeping interest rates on hold.

Sterling weakens to 1.3423 

The GBP/USD pair traded at 1.3423 decelerating from its previous zone the 1.3443, whereas the EUR/GBP reached the 0.8819 level from the 0.8784 thus the sterling gaining ground against the euro.

Gold to 1-week highs

The precious metal, gold, traded to 1-week highs amid the Federal Reserve raising interest rates following the ongoing concerns that inflation resumes stagnant.

The Comex gold futures approached $1,257.80 a troy ounce rising 0.74%.

The silver futures reached $16.065 a troy ounce surging 1.24%, platinum to $883.85 appreciating 0.97%, palladium to $1,001.92 an ounce decelerating 0.21%, and copper futures to $3.062 a pound rallying 0.28%.

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