Analysts at TD Securities suggest that they are updating levels in the wake of Wednesday's FOMC meeting and with economic data mixed and Brexit/politics muddling the outlook, the MPC is likely to vote unanimously to leave policy on hold.

“Increasingly hawkish comments set against a more worrisome global backdrop set the stage for surprise this week. Our base case still sees a muted reaction in GBP, particularly as it has already had a decent run this week. Directional risks remain more a function of the UK's political backdrop and global risk environment.”