The Pound made some good gains in trading yesterday following positive service sector data however all eyes will now be on today and what we see come from the Bank of England interest rate decision meeting at 12:00pm today.

There has been much speculation surrounding the possibility of more QE introduced by the BOE at Mark Carney’s first meeting as the new Governor however I personally would be surprised as we have seen pretty good data out lately from the U.K and I feel that he may wish to get his feet under the table before making any bold moves – This is only his 4th day!

Keep an eye out for a volatile Pound shortly after 12 as of course anything can happen, we also have the European Central Bank interest rate decision and press conference at 12:45 and 13:30pm respectively – No major changes are expected however do be aware that the press conference can cause quite a lot of volatility as investors will hang off of every word that Mario Draghi (Head of the European Central Bank) says.