The pound could take direction from the Bank of England’s latest monetary policy meeting, which is due to take place at midday today.
Although interest rates and quantitative easing measures are expected to remain the same, any comments from BoE officials about economic recovery and the UK’s recent jump inflation will be watched closely.
After strong PMI figures released for the Eurozone yesterday, the European Central Bank will hold its General Council Meeting this morning.
In the US, ‘hawkish’ comments from Federal Reserve officials have given the dollar a small boost.
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