Sterling fell today while remaining within a specific range this week, ahead of the Bank of England meeting, expected to hold monetary policy steady.
GBP/USD last traded at 1.2938, down from the opening of 1.2950, with a session-high at 1.2991, and a low at 1.2931.
The dollar kept rising today on expectation the Federal Reserve will hike interest rates in June, heaping pressure on the pound.
on the other hand, markets await the BoE meeting tomorrow, in order to know policymakers' inflation expectations and monetary policy, with analysts expecting no change tomorrow.