The Bank of England (BoE) is expected to announce a dovish hold in its upcoming meeting. This means that the central bank is likely to keep interest rates unchanged while maintaining a cautious outlook on the economy. As a result, there is limited downside potential for the EUR/GBP currency pair.
Investors are anticipating the BoE’s decision and are prepared for a relatively unchanged stance. The dovish hold is expected to have a minimal impact on the EUR/GBP exchange rate, with limited room for significant movement.
Overall, the BoE’s upcoming meeting is not expected to bring any major surprises, and the EUR/GBP pair is likely to remain stable in the near term. Investors will be keeping a close eye on the central bank’s statements for any hints on future monetary policy decisions.