Bank of England cuts their interest rate to 0.25%

The Bank of England dropped their interest rate to 0.25% this morning (8/4/16).
This was their first rate cut in 7 years.

(pictured above) the GBP/USD exchange rate took a dive on the news, the GBP/JPY forex rate also reacted negatively. Interestingly enough the EUR/GBP rate went up by about as much as GBP/USD went down.