Looking ahead, many expect the Bank of England to enact more accommodative measures to help bolster the economy. In the post-Brexit environment, Martin Weale, one of the Bank of England’s long-time hawks, is even beginning to turn dovish on their policy outlook.
SEE MORE: Brexit Continues to Drag on Pound ETF, Sends GBP to Three-Decade Low
In August, the Bank of England pared its benchmark rates to a record low 0.25% from 0.5% and anticipates it will further bring it down toward zero ahead, the Wall Street Journal reports.
“Similarly, the value of assets held in ETFs allowing investors to go “long” the pound, or bet on its strengthening, rose to the highest in almost four years, figures provided by ETF Securities on Monday showed,” according to Reuters.
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