Pound Sterling plummets as two BoE members favor 50 bps interest rate cut
The Pound Sterling faces pressure against its major peers as all nine BoE MPC members favored a 25-bps reduction in interest rates to 4.5%. Soft CPI inflation data in December and weak labor demand in three months ending November boosted BoE dovish bets.
The Pound Sterling falls back to near 1.2400 against the USD after the release of the US NFP data for January.
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