Despite all the news today, the pound was still the story

The Bank of England decision launched the biggest move

The commodity currencies took advantage of the dovish hike from the Bank of England and uncertainty about the tax plan.

Earlier this week, GBP/AUD touched the best level since early June but it’s cratered nearly 500 pips lower since.

Meanwhile, GBP/CAD ran into a resistance level I noted yesterday in what was another brutal reversal.

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