The British pound is off its lows as we approach the Bank of England decision.
The British pound declined in value against the euro and dollar after the UK reported inflation fell in November, while annual inflation roses by less than feared.
The British pound rose against the euro and dollar in the minutes following the release of consensus-beating UK wage data; however, we don't expect gains to persist.
The British pound risks a setback against the euro and dollar following the release of underwhelming UK economic data.