Today’s UK rate hike

[easttech]

I hope a lot of you were able to get in on the interest rate announcement this morning. Nobody expected them to raise interest rates until possibly March of 2007 but when they announced the hike BOOM the GBP/USD p took off like a rocket up 140 pips. I love news trading when a rare shocker like this comes along it’s like money in the bank. I made my profits for the month

rew

[yyc196]

Hi notice that the price shoot up to more than 100 pips within 5 minutes but later retraces back by another 100 pips down. So how do you expain that?