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

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.