GBP/USD is trading at 1.2225, up 0.42% over the past 24 hours. The currency pair increased because of speculations that the BoE will raise interest rates this week. The Bank of England has undoubtedly limited its monetary policy to slow the rising inflation. However, further worries about the global banking crisis amid the Silicon Valley Bank collapse might cause BoE officials more difficulties. Moreover, the movement of the pound would not be limited to the Bank of England’s monetary policy on Thursday. The Consumer Price Index (CPI) data, due Wednesday, will influence the BoE’s decision-making, potentially giving ... (full story)