At 7:00 am ET, the Bank of England is set to announce its monetary policy decision. The economists expect to lift the bank rate to 5.50 percent in a three-way split vote.
Ahead of the BOE rate decision, the pound showed mixed trading against its major rivals. While the pound fell against the euro, the U.S. dollar and the yen, it held steady against the Swiss franc.
As of 6:55 am ET, the pound was trading at 0.8659 against the euro, 1.1143 against the Swiss franc, 1.2299 against the U.S. dollar and 181.77 against the yen.
