GBP Closes Its Worst Week in a Month vs USD Ahead of BOE Meeting

May 6, 2016 (Tempus, Inc.) – The Pound is closing its worst weekly performance against the dollar since March.

Bank of England Governor Mark Carney is feeling the pressure to deliver some relief next week as the central bank makes its policy decision.

The benchmark rate is still at the record-low 0.5% and fears over the “Brexit” possibility are likely to keep rates unchanged.

More importantly, economists are worried about the recent slump in data and wonder if the BOE may need to step in by easing measures further.

The “Brexit” fear is manifesting itself in the lack of consumption growth and the anemic pace of growth in both the manufacturing and services sectors.

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