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Bank of England policy decision looms at 11am GMT- GBP/USD braced to move
The Pound is slightly below its best levels of the morning as the eagerly awaited Bank of England policy decision looms shortly, at 11am GMT. The markets overwhelmingly expect no change in the current 5% base rate, but given the Fed move last night, that is by no means a certainty, despite whatever anyone thinks, including this analyst. The FTSE 100 is close to session highs right now, above 8,360 and mostly being driven higher by record gains in the DAX and US futures. Of course the FTSE 100 is going to react to whatever the BOE delivers and so is the Pound, versus the Dollar, Euro and the Yen. The GBP/USD is currently just off its earlier session highs as it awaits the outcome of this monetary policy decision. The Pound is just now at 1.3270
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