GBP/USD came under heavy bearish pressure on Thursday and lost more than 1% on a daily basis for the first time since October. The pair continues to push lower on Friday and was last seen losing more than 0.5% below 1.2600.
The Bank of England maintained the bank rate at 5.25% as widely anticipated. The policy statement revealed that seven policymakers voted in favor of a hold, while one policymaker wanted to lower the policy rate by 25 basis points. The BoE refrained from offering any clues regarding the timing of the policy pivot.