British pound continues to rise on economic recovery hopes

The British pound rose on Friday, after the Bank of England's decision and its President Andrew Bailey's remarks.

The Bank of England decided yesterday to keep the interest rate at 0.10% unchanged, also voted on keeping the asset purchase programme at £895 billion per month, on par with market's expectations.

BoE President Bailey said that there are signs that the unemployment rate is higher than official data.

However, Bailey projected that the British economy will recover in the coming period, supported by vaccination with promising vaccines like AstraZeneca, Pfizer-BoiNTech and Moderna vaccines, as all of which have been approved in the UK and Europe.

As of 20:11 GMT, GBP/USD rose 0.4% to 1.3732, after hitting a high of 1.3741 and a low of 1.3662.