May 03, 2022 - 02:59 PM 309 views
The pound is likely to stabilize
before the commencement of the Bank of England (BoE) meeting on Thursday. ING
economists expect the GBP (Great Britain Pound) values to be alleviated after
the rate announcement, especially against the US dollar.
Except for two days of "wait
and see" in GBP trades, investors appeared to be tense ahead of the Bank
of England (BoE) meeting on Thursday.
After the rate announcement, they
believed that it could lead to a more dovish repricing across the GBP values,
and the values of the pound would probably loosen its strength. This currency weakness has proved to be strength
against the US dollar that could find more strength from the FOMC meeting.
Currently, the EUR/GBP currency pair is capped and trades between 0.8450 and