The Pound US Dollar (GBP/USD) exchange rate is trading -0.4% at US$1.2918, after briefly piercing US$1.30 in the previous session.
All eyes are on the Bank of England, which will announce its interest rate decision at 12:00 BST. The central bank is not expected to adjust policy. However, they could pave the way for more stimulus at the next meeting in November.
The US Dollar is rallying after a more upbeat Fed. The Fed stayed pat on monetary policy. However, the central bank upwardly revised the GDP forecast for this year, from -6.5% contraction to -3.7%.