Sterling Drops as Traders Brace for Easing from Bank of England

The Great Britain pound fell against the US dollar and the euro during the current trading session as market participants were betting on monetary easing from the nation’s central bank at this week’s policy meeting.
The Bank of England will conduct a meeting on July 14. While previously speculators were betting on an interest rate cut in August, now they anticipate a reduction in July. Analysts predict that the main rate will be slashed by 25 basis points to 0.25%.
GBP/USD dropped from 1.2946 to 1.2890 as of 10:14 GMT today. EUR/GBP rose from 0.8531 to 0.8559.

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