GBP/USD reverses its course late in the European session amidst a low-volume trading day in the FX space, with US markets closed due to a holiday. A risk-off impulse weighs on the Pound Sterling (GBP), which is set to outperform the greenback, as the Bank of England (BoE) is expected to deliver a rate hike on Thursday. The GBP/USD is trading at 1.2793, down a modest 0.19%. European equities closed with losses. The GBP/USD is at the mercy of the BoE’s decision to raise rates after being questioned by politicians to deliver price stability amidst inflationary levels last seen 40 years ago. Nevertheless, it should be ... (full story)