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According to Reuters, sterling's slip was a "knee-jerk" reaction to the BoE revealing there were no more policymakers who votend in favour of an interest rate rise, keeping the split at six-three for maintaining the cash rate.
Philip Shaw, chief UK economist at Investec, said the minutes do not seem to show that the MPC is closer to upping the interest rate.
He added: "The committee concluded that as a result of recent events there was greater uncertainty with regard to the outlook for both inflation and output but that the balance of risks overall was largely unchanged."
This comes after forex traders got behind the pound yesterday when it moved up to a 14-month high following the release of better-than-expected UK consumer prices index data.
Posted by Greg Secker
