GBPUSD

The GBP/USD pair is trading at 1.3400, with the Bank of England's interest rate decision standing out on the UK side. While the BoE is expected to keep rates steady, the likelihood of a rate cut at the June meeting is priced in at 75%. The housing price index to be announced tomorrow will indicate the course of the recovery in the UK housing market. The pound is relatively strong against the dollar due to signs of moderate recovery in the UK economy and expectations that the BoE will cut rates later than other central banks.