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 25 basis points to 1.25 percent from 1 percent.

Ahead of the decision, the pound traded mixed against its major counterparts. While it recovered against the greenback and the euro, it held steady against the franc. Against the yen, it dropped.

The pound was worth 1.2154 against the greenback, 161.79 against the yen, 1.1908 against the franc and 0.8563 against the euro at 6:55 am ET.

Euro vs Sterling (FX:EURGBP)
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Euro vs Sterling (FX:EURGBP)
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