# All eyes on the BoE... - OFX (UK)

> Sterling had fallen 3.4% over five days to 1.2100 against the dollar ahead of the Bank of England decision. Investors expected rates to be held, and the pound's direction was seen as dependent on Brexit negotiations and BoE projections. Government spending of an extra £2.1bn on no-deal preparations was also reported.

- Date: 2019-07-31 · published 2019-07-31T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/58363-all-eyes-on-the-boe-ofx-uk
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A pound sell-off ahead of central bank and Brexit risk affects dollar-based currency pricing, but its link to feed commodity markets is indirect.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- ofx.com: https://www.ofx.com/en-gb/forex-news/daily-and-weekly-market-news/2019/08/01/all-eyes-on-the-boe/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.