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GBP/USD continues to edge lower ahead of BOE decision

Well, if anyone thought the BOE was soon to deliver any kind of hawkish surprise onto the markets they would be forgiven for wondering why the pound has been struggling for traction over the past couple of hours, versus the Dollar and the Euro. The GBP/USD has just now hit a fresh session low at 1.2627 and the EUR/USD is rising closer to that 0.8550 level again. Of course this might all change at 12pm GMT, when the BOE reveal what is expected to be an unchanged policy announcement. Well, it will not be that in itself that sends the pound higher, but it might be the voting split and any accompanying statement with the decision. Perhaps more likely than anything it could come from comments after the decision, in the 12.30pm press conference, hosted by the BOE governor, Andrew Bailey. At the same time if all this does not deliver on the hawkish side, then the pound will not like that one bit. The GBP/USD is currently trading at 1.2629 

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