Pound Sterling Can Recover Losses Experienced against Euro & Dollar in the Wake of the Bank of England Event: Analysts

The Bank of England has reduced the scale of its quantitative easing programme while issuing a sizeable upgrade to their 2021 economic growth forecasts, a decision that has prompted some volatility in the British Pound.

The UK's vaccine rollout will speed up in May according to reports, easing what might have been a contributing factor to the Pound's lacklustre April performance.

The British Pound will today take direction from the Bank of England who will announce - or delay - a decision on whether to boost or reduce quantitative easing.

Research from Crédit Agricole shows that the British Pound could be vulnerable to political risks over coming days, and they have advocated a 'sell' on the currency as a result.

The British Pound faces a double-header of risk events over coming days with the Bank of England's Thursday policy meeting potentially setting the tone for how May plays out.

The British Pound has more or less flatlined against the Euro will continuing to churn familiar territory against the U.S. Dollar, but early May could bring with it a welcome dose of volatility.