For GBP to remain supported the Bank might have to raise its basic interest rate to as high as 5% during this cycle according to new research.
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GBP was softer after it was reported headline UK CPI inflation was lower in August than in July, suggesting the peak in price rises might have now passed.
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UK jobs data was on balance supportive for the Pound, with the currency rising against the Euro, Dollar and most other major currencies in the wake of the release.
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Next week's Bank of England interest rate decision poses the biggest near-term risk to Pound Sterling say analysts at two leading investment banks.
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The British Pound was soft at the start of a new week following the release of domestic GDP data that showed July's economic rebound was softer than expected.
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A better year-end awaits the British Pound after inflation-busting measures are announced.
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The prospect of a stronger ending to 2022 for the British Pound came a step closer following news the UK government would cap annual UK gas prices at £2500 for the next two years.
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