GBP/USD Moves Down After BOE

GBP/USD is trading at 1.5503, down 0.0099. The pair is trading weak and choppy near the lows of the session.

The Bank of England left rates unchanged with a vote of 8 to 1. BOE Governor Mark Carney had write an open letter to UK Chancellor George Osborne outlining the reason for inflation coming in a below target levels. Carney said falling commodity prices and a little below average growth in domestic unit wage costs. Carney said "further open letters" are likely.

U.K. Industrial production came out at down 0.4 percent versus up 0.3 percent in May. The Halifax price index for July was down 0.6 percent versus up 1.6 percent in June. Year-over-year prices were up 7.9 percent versus up 9.6 percent in June. The Bank of England left QE levels the same with a vote of 9 to 0.