The Bank of England's monetary policy announcement is due at 7:00 am ET Thursday.The BoE is widely expected to raise its key rate by 50 basis points to 4 percent from 3.50 percent.

Ahead of the decision, the pound fell against its major counterparts.

The pound was worth 1.2328 against the greenback, 158.76 against the yen, 1.1206 against the franc and 0.8921 against the euro at 6:55 am ET.

Sterling vs US Dollar (FX:GBPUSD)
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