Analyst: Improved risk appetite and a calm market reaction to the decision by the Bank of England have boosted the pound to rise.

Convera's Antonio Ruggiero stated in a report that due to improving risk appetite and the market's calm reaction to the imminent decision by the Bank of England, the pound is trading near a five-month high against the euro. He said that the positive correlation between the pound and risk appetite has boosted the currency, and breaking through the resistance level of 1.1550 euros further strengthens this trend. The Bank of England is expected to keep interest rates unchanged on Thursday. He said that pound buyers may believe that the risk of the Bank of England changing its cautious stance on loose monetary policy is limited, and the likelihood of more than two policymakers voting for a rate cut is low. The pound held steady at 1.1585 euros, but was still near the earlier high of 1.1596 euros. The pound rose 0.1% against the US dollar, reaching 1.3682 dollars.