After a strong start to last week for GBP/EUR it hits February 0.6% up on a month ago. It was a week where GBP/USD marched up the hill and then straight down again, but it remains close to its best for nearly five years. The key event risk is Thursday’s Bank of England decision (no change and no surprise anticipated) but the press conference will matter as much for tone as for numbers. Investors want to know whether the MPC is still fixated on wage growth, and whether recent price pressures in the UK are enough to keep the Bank cautious for longer.
GBP: Bank of England holds the spotlight
Christopher Nye
on February 2nd, 2026 
