Chris Turner of Dutch International Group said in a report that if the Bank of England decides to cut interest rates, the decline in the pound may only be brief. The market generally expects the Bank of England to cut interest rates by 25 basis points. The average expectation is that the voting results will be 5 to 4 in favor of interest rate cuts, but there is a risk that the voting results will be 6 to 3. He said that although such an outcome would be moderately bad for the British pound, speculative positions have seriously undervalued the currency. He said that after the Bank of England's decision, EUR/GBP may soar to £0.8820-£0.8840, but it will soon fall back to £0.8750. EUR/GBP recently held steady at £0.8772. GBP/USD fell 0.1% to $1.3365.

Chris Turner of Dutch International Group said in a report that if the Bank of England decides to cut interest rates, the decline in the pound may only be brief. The market generally expects the Bank of England to cut interest rates by 25 basis points. The average expectation is that the voting results will be 5 to 4 in favor of interest rate cuts, but there is a risk that the voting results will be 6 to 3. He said that although such an outcome would be moderately bad for the British pound, speculative positions have seriously undervalued the currency. He said that after the Bank of England's decision, EUR/GBP may soar to £0.8820-£0.8840, but it will soon fall back to £0.8750. EUR/GBP recently held steady at £0.8772. GBP/USD fell 0.1% to $1.3365.