The British pound sterling continues to appreciate against the US dollar. The current GBPUSD quote stands at 1.2765.
The pound is gaining strength against the market signals. Bank of England governor Andrew Bailey expects the recent mortgage cost reduction will persist. As he mentioned yesterday, significant interest rate changes have occurred in the market over the past few months, resulting in a decrease in mortgage costs.
Bailey did not stop at the prospects of monetary policy and suggested focusing on the market itself.
Vital statistics from the UK will only be released on Friday. Until then, the pound has the potential to maintain the current momentum.