Bank of England Vote May Trigger GBP/USD Jump
An upcoming Bank of England vote could fuel a rise in GBP/USD, as the US dollar recently saw its sharpest drop in two weeks on comments from Kevin Warsh.
The British pound may get a lift from an approaching Bank of England decision, with markets eyeing the potential for a hawkish outcome that would push GBP/USD higher.
Meanwhile, the US dollar suffered its steepest decline in the last fortnight after Kevin Warsh signalled a shift in the Federal Reserve's approach to inflation. Warsh indicated the central bank should lean on the financial sector to bring price growth back to the 2% target, rather than relying solely on traditional monetary policy.
The combination of a more active BoE and a wavering greenback has put the currency pair on traders' radar.
Source: FXStreet Forex News