Pound Falls after BOE Minutes

The UK pound is lower today, falling after the release of the Bank of England's latest Monetary Policy Committee meeting minutes. The minutes show that some members of the committee wanted to expand the bond purchase program even more.

As a result, many forex traders are concerned that more quantitative easing could be seen in the future. The result has been that traders are selling pound against euro and dollar. With the prospect of more easing, pound is out of favor.

However, some of the losses might be limited. The UK is showing some economic progress, and there are hopes that the sterling could find some strength. And the fact that the bond purchase program was more limited than some wanted means that perhaps those elements won't gain the the upper hand at the next policy meeting.

For now, though, pound is struggling, and isn't being helped by a turn toward risk aversion today as equities fall.