Sterling fell on Monday, edging back towards last week's 31-year low against the dollar on expectations that the Bank of England will ease monetary policy in response to Britain's shock vote to leave the European Union.
The BoE, which meets on Thursday, expects the economy to suffer a material slowdown because of the uncertainty caused by the Brexit vote. Chances of the Bank cutting rates this week have jumped to 74 percent, from 11 percent just before the result of the June 23 referendum was announced.
The BoE has kept its main interest rate at 0.5 percent for nearly 90 months.
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The BoE, which meets on Thursday, expects the economy to suffer a material slowdown because of the uncertainty caused by the Brexit vote. Chances of the Bank cutting rates this week have jumped to 74 percent, from 11 percent just before the result of the June 23 referendum was announced.
The BoE has kept its main interest rate at 0.5 percent for nearly 90 months.
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