Sterling loses ahead of Thursday Bank of England meeting
29 January 2020

Before the clock ticks Brexit (23.00 Friday 31 January) there is another hurdle for the markets as the Bank of England decides on whether to drop interest rates at its meeting tomorrow (30 January). Currently Sterling is at the back of the race as the worst performing currency of the past 24 hours and we can expect more fluctuations over today and tomorrow morning. 

The stopwatch is showing the Pound dropping against the Euro and Dollar on Wednesday but then recovering to post 1.182 against the Euro and rising to 1.3012 against the Dollar. With the uncertainty around the interest rate decision (the odds of a cut are hovering around 50 percent) the short-term forecast on the Pound is fluctuating around the Bank of England's decision. The bottom line here is if the Bank leaves interest rates at 0.75 per cent then Sterling's rise from a possible fall today will be easier. 

So expect more volatility ahead of tomorrow's decision on interest rates.

Sterling loses ahead of Thursday Bank of England meeting
29 January 2020

Before the clock ticks Brexit (23.00 Friday 31 January) there is another hurdle for the markets as the Bank of England decides on whether to drop interest rates at its meeting tomorrow (30 January). Currently Sterling is at the back of the race as the worst performing currency of the past 24 hours and we can expect more fluctuations over today and tomorrow morning. 

The stopwatch is showing the Pound dropping against the Euro and Dollar on Wednesday but then recovering to post 1.182 against the Euro and rising to 1.3012 against the Dollar. With the uncertainty around the interest rate decision (the odds of a cut are hovering around 50 percent) the short-term forecast on the Pound is fluctuating around the Bank of England's decision. The bottom line here is if the Bank leaves interest rates at 0.75 per cent then Sterling's rise from a possible fall today will be easier. 

So expect more volatility ahead of tomorrow's decision on interest rates.

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