WEEKLY FOREX FORECAST; March 23, BoE Interest Rate DecisionWEEKLY FOREX FORECAST; March 23, BoE Interest Rate Decision

The British pound is facing volatility and uncertainty in the market this week as the Bank of England (BoE) is seen keeping up its benchmark policy rate hike. The central bank is likely to deliver a 25 bps rate increase this Thursday, March 23, raising the key policy rate from 4.0% to 4.25%.
At the same time, traders should follow the BoE MPC Meeting Minutes and the speeches as if there is any sign of a potential pause at the next meeting, it could weigh heavily on the GBP. But in case the BoE signals more tightening ahead, consequently, the GBP rally could get fresh legs.

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