The British pound is slightly higher at the start of the week. In the North American session, GBP/USD is trading at 1.2495, up 0.27%. The pound is coming off an excellent week, having gained 1.93%. It’s a very light data calendar on Monday, with no major releases out of the UK or the US. We’ll hear from Bank of England Governor Bailey later and the markets will be looking for some clues about future rate policy. Markets sniff a rate cut On Tuesday, Bailey testifies before the Parliament’s Treasury Committee. Lawmakers will undoubtedly press the Governor about rate policy, given that inflation is falling. There is ... (full story)