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Sterling fell against the dollar ahead of the Bank of England decision, on track for its biggest daily drop in about a month. Markets priced a 94% chance of a 25 basis point cut to 4.5%, with no second easing seen until June.
The pound was trading 0.74% lower at $1.2414.
A fully priced cut means the currency move reflected the expected decision, so the market impact is limited. The effect on feed markets is minimal.
reuters.comGreta Rosen FondahnFeb 6, 2025Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
