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Adding to her earlier comments about the Bank of England not being in a rush to hike rates in case the UK leaves the EU with a deal,  Monetary Policy Committee member Silvana Tenreyro said that it was still possible that they may have to hike rates in the event of no deal Brexit as well.

“The MPC is exploring ways to resolve the tension between market view and the BoE’s assumptions for smooth Brexit,” Tenreyro added.

Meanwhile, the GBP/USD pair, which capitalized on the broad USD weakness, was last up 0.32% on the day at 1.250.