XE Market Analysis: North America – Oct 08, 2015

Sterling took a nosedive on the release of the BoE MPC minutes to its just-completed October policy meeting, which showed a dovish turn with inflation risks seen remaining off the table for longer than previously envisaged. Cable dropped to the low 1.53s from levels above 1.5350. Elsewhere, the dollar drifter lower against the other majors and dollar-bloc currencies, the latter of which declined concomitantly with a correction in commodity prices. EUR-USD lifted to a peak of 1.1314 before stalling, leaving the Oct-2 high at 1.1318 untested and settling back under the 1.13 handle.