At 6:50pm, I placed my straddle trade with the following details: –
Stop if Offered at 1.3170, Spot at 1.3204, Stop if Bid at 1.3230
Correspondingly SLs at spot.
As it turned out, interest rate was kept on hold, so was the asset purchase.
Votes was the same at 7-2.
I suppose the financial markets took the two differeing votes as another constant from the last rate decision and concluded that it means the BOE is on firmer ground, I don’t know.
However, the GBP strengthened, triggering my Stop if Bid.
I squared the trade at 1.3333 for a trading profit of 103bps.
Thank you BOE or should I say, thank you High Street and Wall Street!
The Panthenon Investment Group 