The British pound stabilised, but remained close to its one-month low against the dollar after a rebound on Thursday. The Bank of England's recent interest rate cut has been a significant factor contributing to its ongoing weakness.
Expectations of additional interest rate cuts could further weigh on the pound, while contrasting US monetary policy expectations may offer some relief by alleviating the pound's decline against the US dollar.
A softer monetary policy in the UK could impact yields, despite some recent rebounds. Monitoring upcoming economic data, particularly the UK's June unemployment and inflation reports, is crucial for traders to assess future monetary policy decisions.
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