Sterling Soars 2%, Outpacing Dollar as Traders Brace for BOE Decision

The British pound is witnessing a surge against major currencies, gaining approximately 2% as investors anticipate the Bank of England’s upcoming meeting. This robust performance highlights anticipation for hawkish signals that could significantly influence exchange rates and global financial markets. Analysts attribute this shift to the anticipated policy response from the Bank of England to recent inflation pressures and economic growth data. The upcoming BOE meeting is expected to provide crucial insights into future monetary policy directions, shaping the forex market’s trajectory.