The Bank of England meanwhile is thought likely to start trimming its own key borrowing costs in August, with the European Central Bank expected to move two months before that.heading lower but still above target across most developed economies. For its part, the BoE has said that inflation appears to be heading in the right direction but that significant uncertainties remain.
Reversals will concentrate initially on retracement support at 1.24947, and bulls will strive to keep the market above 1.2300 psychological support, as it defends this month’s six month low, posted on April 23.
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