Markets turn their attention to the UK and the latest BoE interest rate meeting.

The USD continues to get battered, allowing paired currencies to climb overnight. The EURUSD opened the day at $1.18018 and sipped to lows of $1.17921 early. It remained nearly those levels for a few hours before marching up mid-session. The pair hit highs of $1.19040 late in the day and is now trading at $1.18804. The GPUSD started the day at $1.30700 and slipped to lows of $1.30520 in the opening hour of the day. It bounced off those lows quickly a rallied to a late high of $1.31608. It has come away from those highs and is now trading at $1.31359.

The Dow continued its rally overnight after opening at 26,849.39. The index edged down to a low of 26,781.14 early but rebounded and powered its way to a high of 27,227.60 just before the close. That trend has been maintained in early Thursday trading, with the Dow currently sitting at 27,267.30. The Dax was more subdued overnight, giving up early gains to close the session flat. The German index began the day at 12,606.88 and slipped to lows of 12,574.93 early. Bouncing off those lows, the Dax climbed to a high of 12,758.64 mid-session. Those gains were not held for long however as it gave up most of its gains late in the day, closing at 12,618.87. It is now closing at 12,671.90.

The day ahead sees the latest Bank of England monetary policy meeting wrap up. While rates are tipped to remain on hold at 0.1%, there is scope for the central bank to expand other monetary policy measures, such as their bond-buying program.

Other data published today includes:

NZ – Inflation Expectations

Europe – German Factory Orders, Italian Industrial Production

US – Unemployment Claims, Challenger Job Cuts, Natural Gas Storage, FMC Member Robert Kaplan speaks

UK – Official Bank Rate, Asset Purchase Facility, Monetary Policy Summary, Monetary Policy Report, BoE Financial Stability Report, FPC Meeting & Minutes, Construction PMI, BoE Governor Andrew Bailey speaks

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