Business As Usual For The Pound

The pound reverted to type this morning, falling by around 2 cents against the dollar after the release of the minutes from the BoE's MPC meeting earlier this month.

The market is now trying to decide if yesterday's better-than-expected inflation figures were simply a one-off blip on the road to Hades.

The minutes showed that three of the MPC members (including Merv the Swerve himself) wanted to increase QE by even more than the £50 billion that was passed. That would seem to suggest that we should all be looking to buy shares in the company that supplies the ink and paper to the Royal Mint.

The prospect of more QE somewhere down the line (November seems to be a popular choice with the pundits) sent the pound tumbling below $1.64, having earlier been punching above it's weight at close to $1.66.