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UK monetary policy

Investors will get more clarity on the UK interest rate outlook from the BoE’s monetary policy decision, which will be announced on Thursday. The BoE is widely expected to keep interest rates steady at 5.25% for the sixth straight time.

Therefore, any commentary on the interest rate outlook will be more useful for investors to predict the next move in the Pound Sterling.

The Pound Sterling falls sharply after facing significant selling pressure near the round-level resistance of 1.2600.

The GBP/USD pair weakens as investors remain convinced about the chances that the Bank of England will reduce interest rates earlier than the Fed.  

Dr. Kamaran Qader Yaqub,
Financial consultant at Investment Spot company. 

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