The Bank of England will announce its latest monetary policy decision around midday today. Expectations for an interest rate hike have decreased in recent days, however, a hike is still possible.
Sterling could strengthen or weaken following the meeting, depending on whether interest rates are raised or not, and the outcome could determine the pound’s movements for the rest of this year.
The dollar is slightly stronger this morning following the conclusion of the Federal Reserve’s meeting yesterday. It was announced that the large bond-buying program will be tapered, as expected.
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