Pound awaits Bank of England rate decision
TLT•Sterling lacked direction ahead of the Bank of England’s rate decision, with forward guidance potentially the main driver; October services activity was revised lower but remained the fastest-growing since February.
1. Currency moves
The Bank of England’s interest rate decision was in focus, with forward guidance potentially the main driver for sterling. Sterling lacked direction after October services activity was revised lower, though expansion remained the fastest since February. The US dollar fell as Democrats took control of both congressional chambers in midterm elections, while weaker eurozone PMI results offset euro gains and falling oil prices weighed on the Canadian dollar.
