Great Britain Pound Falls, Still Heads to Weekly Gains

The Great Britain pound fell against the US dollar and the euro today due to signs that the Bank of England may decide to ease its monetary policy.
BoE officials suggested that an interest rate cut may be necessary to fuel economic growth, and this led to a drop of the sterling during the current trading session. Yet the currency was still heading to weekly gains as prospects for Britain’s exit from the European Union waned. Additionally, yesterday’s positive retail sales data helped to support optimism for the nation’s economy.
GBP/USD slid from 1.4608 to 1.4573 as of 9:07 GMT today. EUR/GBP gained from 0.7665 to 0.7698.

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