The monetary unit of England was hovering on Thursday against the world's reserve currency as policy makers with the Bank of England prepared to announce a policy decision, Bloomberg reports.
The body is poised to leave borrowing costs and stimulus measures intact, according to economists' projections. Mark Carney, governor of the Bank of England, is scheduled to present new economic forecasts next week, which the Goldman Sachs Group Inc. is projecting will include a brighter economic outlook.
"Everyone anticipates that the BOE is going to remain on hold for quite some time," senior currency strategist Jane Foley with Rabobank International told the publication on Thursday regarding the policy decision. "It will be interesting to see whether going on from here, the rhetoric gets more hawkish."
The English pound was roughly 0.4 percent from its top value in about 35 days against the common currency of the European Union.
As the regional economy strengthens, investors are increasingly confident that the jobless rate is falling, according to Reuters. Concerns were strong earlier this year about the region slipping back into a recession.
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