After the Bank of England announces its decision, the future of the pound will depend on UK data and politics.

Nick Rees of Monex Europe stated in a report that following the Bank of England's decision to keep interest rates unchanged at 3.75% on Thursday, upcoming UK economic data and domestic political developments will determine whether the pound will continue to weaken. He noted that although two members of the nine-member Monetary Policy Committee voted in favor of a rate hike, the Bank of England's communication suggests that there is generally no urgency to change policy in the short term. He said that if data further indicates signs of economic weakness and political risks increase, the pound may further decline. Data from the London Stock Exchange Group shows that the pound fell to a 10-week low of $1.3202. The euro rose to a three-week high of 0.8675.