Sterling widens losses as BoE's impact carries on

Sterling kept falling on Friday for the second session in a row due to the continued impact of the Bank of England's meeting, which expressed its commitment to the current monetary policy with very low interest rates.
 
GBP/USD last traded at 1.2503, down from the opening of 1.2515, with an intraday high at 1.2535, and a low at 1.2452.
 
The BoE upgraded its growth and inflation forecasts, mentioning the improvement in growth rates as a result of the bank's stimulus program, with low interest rates being appropriate for the current monetary policy, which slashed chances of a rate hike soon.
 
The pound fell today after hitting a two-month high, triggering profit-taking operations as BoE believes in low interest rates for the time being as inflation benefits from the weakening local currency.
 
The dollar wavered today following the mixed U.S. payrolls report, but the pound failed to benefit from dollar's slide due to negative pressure from the Bank of England's meeting.