Pound Slides Amid Speculation Minutes Will Show Brexit Concern

The pound fell for a second day against the dollar as investors awaited the Bank of England’s latest policy decision and the minutes of its meeting.

Sterling weakened as a report showed a gauge of U.K. house prices unexpectedly dropped to a nine-month low in March. With analysts forecasting that the central bank will leave its key rate at a record-low 0.5 percent, investors may focus on whether officials discussed a looser monetary policy to counter the potential economic pain of Britain quitting the European Union. The Brexit debate helped send sterling down by about 4 percent against the dollar this year, the most among 16 major currencies.


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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.