The Bank of England will release its monetary policy summary and announce the interest rate on September 19, at 14:00 MT time.
Greenback is pressured before Fed verdict
On Wednesday, the evergreen buck was suppressed, dipping versus a basket of other key currencies ahead of the Fed’s highly anticipated policy decision.
Traditionally indicating the greenback’s value versus a basket of six crucial currencies, the US dollar index declined 0.24% being worth 88.81, rebounding towards the previous week’s minimum of 88.25, which is its weakest reading since December 2014.
The US currency was on track for an abrupt monthly loss versus its counterparts, with the index losing approximately 3% on the month.
The evergreen buck was pressured because it has lost its yield attraction for traders. Evidently, a faster rate of monetary tightening outside America would decrease the divergence between the major US bank and other key financial institutions.
The common currency gained ground, with EUR/USD inching up 0.34% hitting 1.2444.
As for the currency pair USD/JPY, it declined to 108.71.
We've got some positive news for the British pound and we are awaiting the release of the core retail sales for Canada at 15:30 MT.
The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.
The European trading session will be highlighted by the events for the British pound. Traders will pay special attention to the BOE meeting at 14:00 MT.