The Bank of England's monetary policy announcement is due at 7:00 am ET Thursday. The BoE is widely expected to raise its key rate by 50 basis points to 1.75 percent from 1.25 percent.

Ahead of the decision, the pound traded mixed against its major counterparts. While it held steady against the franc, it rose against the rest of major rivals.

The pound was worth 163.44 against the yen, 1.2180 against the greenback, 0.8364 against the euro and 1.1685 against the franc at 6:55 am ET.

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