India, July 14 -- The British pound weakened against other major currencies in the European session on Monday, as traders speculate that the Bank of England (BoE) is likely to reduce its interest rate in the next month's monetary policy decision.
Traders speculate that the BoE policymakers is likely to reduce its interest rates by 75 basis points by next June and over 50 basis points by year's end.
The Bank of England is scheduled to announce its monetary policy decision on August 7, 2025.
Data from S&P Global showed that U.K. companies reduced their hiring activity further in June amid uncertainty over the business outlook and budget constraints.
Permanent staff appointments declined at the fastest pace in nearly two years in June and ...