The pound trimmed gains against the greenback Wednesday, after
the minutes of the Bank of England's latest policy meeting revealed the bank will stand pat on its current monetary policy.
GBP/USD pulled back from 1.5646, the pair's highest since July 17, to decline to 1.5629 during European morning trade, still up 0.47%.
The minutes of the BoE's July meeting signaled all nine members of the Monetary Policy Committee agreed to leave the key interest rate at a record low of 0.5%, without changes to the central bank's £375 billion asset-purchase program.
Some policymakers see rising inflation risks.
The strongest cue on the next move the central bank will take was given by BoE Governor Mark Carney when he said that the decision to lift interest rates from record lows will come into a more precise focus around the end of 2015.
Market analysts expect the bank to begin gradually raising interest rates in mid-2016.
Sterling was higher against the euro, with EUR/GBP sliding to 0.698900.
