GBP/USD holds above 1.3310 ahead of BoE rate decision – BBH

GBP/USD trades cautiously above 1.3310 as markets brace for today’s Bank of England meeting. A 25bps cut to 3.75% is widely expected, with a tight 5-4 vote likely, while guidance signaling gradual further easing could pressure the pound on crosses, BBH FX analysts report.

BoE widely expected to deliver 25bps cut to 3.75%

"GBP/USD is down but trading above yesterday’s low around 1.3312. The Bank of England (BOE) is widely expected to resume easing with a 25bps cut to 3.75%. The Monetary Policy Committee (MPC) vote split may be tight: 5 in favor of a cut versus 4 supporting no change."

"More importantly, the BOE will likely stress again that 'if progress on disinflation continues, Bank Rate is likely to continue on a gradual downward path'. That would undermine GBP on crosses."

Dec 18, 2025

USD/JPY rises to near 156.00 ahead of US CPI data, BoJ policy decision

The USD/JPY pair trades higher around 156.00 during the European trading session on Thursday. The pair gains as the US Dollar (USD) rises ahead of the United States (US) Consumer Price Index (CPI) data for November, which will be published at 13:30 GMT.

EUR/USD hlds above 1.1700 ahead of ECB meeting – BBH

EUR/USD trades above 1.1700 as markets await today’s European Central Bank (ECB) meeting. The central bank is expected to keep rates at 2.00%, with President Lagarde’s remarks on future hikes likely to influence the euro’s near-term direction, BBH FX analysts report.