The pound fell to its lowest level in more than two weeks before the Bank of England’s monetary policy decision, helping the Bloomberg Dollar Spot Index to extend a rally into a sixth day.
Sterling slips below $1.2900 on wednesday, the U.K. currency is under pressure in options markets as well, amid continuing uncertainty surrounding Brexit.
GBP/USD falls 0.3% to 1.2899, versus 1.2896 day low; short-term names see sell stops being triggered below 1.2920, a trader in Europe says.
The euro feels the heat from cable weakness and slips 0.2% to 1.1344, a two-week low.
Source : Bloomberg