The Bank of England is expected to lower interest rates by 25 basis points today, following disappointing inflation data for November. Analyst Chris Turner from ING highlights the potential for a dovish split in the voting, which may weigh on the pound in the near term. As traders anticipate this shift in monetary policy, the GBP/USD exchange rate could face downward pressure.
With the anticipated rate cut, market positioning in sterling appears stretched, raising concerns about further declines. The EUR/GBP currency pair may benefit from these developments as traders adjust their strategies ahead of the BoE's announcement. The overall sentiment in the forex market suggests that the pound could remain vulnerable against both the USD and EUR as traders await clearer signals from the central bank.
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Data Source: FX Killer Analysis Team Updated: 2025-12-18 08:31
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.