Sterling falls as traders eye BOE coin flip later in the day ...Middle East

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Sterling falls as traders eye BOE coin flip later in the day
The losses are coming in fast in the last one hour, with GBP/USD falling from 1.2845 to a low of 1.2790 on the day. This is a move tied mostly to the pound, with EUR/GBP also now up 0.4% to 0.8450. It's all about the BOE decision later in the day and this seems to be positioning flows in anticipation of that.The decision is going to be more of a coin flip and traders had earlier priced in something more to that extent as well.The odds of a 25 bps rate cut priced in were at ~58% earlier but are now at ~62% to start the session. I shared some comments earlier:"The central bank is likely to cut the bank rate at the balance, but expectations are for the votes to be either 5-4 or 6-3 in favour of

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