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 3.50 percent from 3 percent.

Ahead of the decision, the pound traded mixed against its major counterparts. While it rose against the yen and the euro, it held steady against the franc and the dollar.

The pound was worth 1.2345 against the greenback, 168.65 against the yen, 1.1453 against the franc and 0.8606 against the euro at 6:55 am ET.

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