STERLING EDGES UP AS INVESTORS LOOK TOWARDS BOE MEETING NEXT WEEK

As traders looked ahead to a Bank of England policy meeting next week, Sterling edged up against the dollar and euro on Friday, the meeting will likely set the tone for the currency in the coming weeks.

The Bank of England is expected to hold interest rates at 5.25% on Feb. 1, but any guidance on the timing of rate cuts will be watched closely. Sterling was last up 0.2% against the dollar at $1.27295. The euro was down 0.1% to 85.31 pence. Money markets are currently pricing a 42% chance of a cut in May, while June is given a 74% chance.

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