Previous close | 0.8002 |
Open | 0.8002 |
Bid | 0.7994 |
Day's range | 0.7986 - 0.8033 |
52-week range | 0.7609 - 0.8304 |
Ask | 0.7994 |
Money markets are forecasting a 55% chance the bank rate will be cut by a quarter of a percentage point at its next meeting.
Markets risk underestimating size of rate cuts, Bailey says.
Expect interest rate cuts in August, say economists.