The British pound remains widely range bound, and with no data on hand for the day, the currency mostly gained in line with other risky assets. The currency could stay range bound next week as well, despite the fact the Bank of England will be meeting. The Bank of England (BOE) is anticipated to leave rates unchanged at 0.50 percent on Thursday at 7:00 ET, but the market-moving part of the announcement is usually the policy statement. This has consistently been the case throughout the past year, including last month, when the BOE unexpectedly announced a £50 billion expansion to their quantitative easing program that would likely come to an end in early November. That said, with no expansion anticipated, the statement is likely to just be a straightforward announcement offering little insight, and thus, the British pound shouldn’t show much of a reaction.
