29 July
British pound bounces back on Bank of England’s extended bond purchase report
Recovery of the British pound started after the management of the Bank of England expressed its intention to extend the bond-buying program if necessary. Initially, Friday was the last day when bankers could take advantage of this program.
According to the Financial Times, banking institutions are watching investment managers have enough money to support clients with margin requirements. These specialists help pension funds monitor the risk level of their portfolios. If the bank sees that the fund manager can’t help clients, then it will extend support.
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