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Reuters reported sterling rose 1.4 per cent against the dollar yesterday (May 10th) to hit a spike of $1.5017, a rise from the $1.5004 experienced before the announcement.
Professionals in the forex trading sector had to wait for the decision because of the UK general election, which delayed the meeting of the Monetary Policy Committee (MPC).
The international news agency said many individuals and organisations were surprised at the MPC's plan to not undertake further quantitative easing purchases.
Indeed, the committee voted to keep the stock of asset purchases financed by central bank reserves at £200 billion.
The announcement came amid Gordon Brown's statement he would step down as Labour leader once a government has been formed, also boosting the performance of sterling during forex trading.
Posted by Sara Secker
