The British Pound tagged a fresh monthly high of 1.6061 as a growing number of Bank of England (BoE) officials softened their dovish tone for monetary policy, and the sterling may track higher going into the December 6 interest rate decision as the fundamental outlook for the U.K. improves. As the economic docket for the following week is expected to show service-based activity expanding at a faster pace, a rise in the Purchasing Managers survey along with an above 50-print in the construction index should prop up the Pound, and the GBPUSD may continue to retrace the decline from back in October amid the shift in the policy outlook.
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