No further progress for GBP/USD as some analysts now call for a BOE cut today

Late yesterday evening an update here noted how the fall back in the dollar following the comments from Jerome Powell helped to push the GBP/USD higher. Well, that was the case heading into the US close, where the Pound ended that session at 1.2856. The price action since has seen the GBP/USD unable to make any progress so far today and a good reason for that was a further slide in the GBP/JPY. That got smashed again earlier today, reaching a new interim low at 190.97. It has rebounded since, but not so the GBP/USD. That has fallen slightly so far today, setting a low at 1.2844. Looking at some of the calls for the BOE policy decision we can see that some leading analysts are now calling for a 0.25% cut later today. That prospect will be looked at further as the morning unfolds, ahead of the rate decision, at 11am GMT. The GBP/USD is currently trading at 1.2844