The pound remains bearish, and British bonds pump as the Central Bank of the United Kingdom cuts interest rates by 25 BP as scheduled.

Jin10 data on August 1st, the pound against the dollar maintained a falling trend, and British government bonds expanded their earlier gains, following the first interest rate cut of the current monetary policy cycle by the Central Bank. After the interest rate decision, the pound/dollar fell by 0.8% to 1.2755. The yield on the UK’s 10-year government bond fell by 6 basis points to 3.91%; the 2-year yield fell by 7 basis points to 3.76%. The currency market has raised bets on a further interest rate cut by the Central Bank, and is now expected to cut rates by another 35 basis points within the year.