The Federal Reserve pushed the US dollar toward the downside following the FOMC monetary policy meeting. The Fed decided to retain the current monetary policy and expecting a long period of assistance to the economy. Due to the Fed ultra-loose monetary policy, the GBP/USD pair bounced to a fresh weekly high to 1.3974 Level.
Furthermore, today all eyes will on the BoE monetary policy meeting. UK policymakers are most likely to expect to maintain the interest rate and the Asset Purchase Capacity unchanged. There will not be a press conference this time.
Furthermore, there will be no update on growth and no update on inflation projections this time. In general, the market believes to have a positive central bank meeting concerning improvement in controlling the COVID infection.
However, continues bond-buying programme add weakness to the British pound. Moreover, any enlargement in the bond-buying programme will further negativity to the GBP/USD pair.