GBP/USD declines following dovish signals from Bank of England officials, with traders eyeing potential August rate cut.
Strong US manufacturing data and a less dovish stance from the Federal Reserve boost the Greenback.
Upcoming PMIs in the UK and US could further influence the currency pair.
The Pound Sterling lost ground against the US Dollar and dropped to its lowest level since November last year as investors began to price in a more dovish Bank of England. A scarce economic docket in the UK, left GBP/USD traders adrift to market mood and dynamics linked to the buck. Therefore, the pair trades at 1.2350, down 0.12%.
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