Pound halted its bull run on monetary policy of BoE

Later Monday, the BoE was expected to leave its benchmark interest rate unchanged at 0.50% and its asset purchase facility program at £375 billion.

On the other hand, the dollar lingering after the ADP reported on Friday that the U.S. economy added 223,000 jobs in April just nearing of economists forecast for 224,000. The unemployment rate ticked down from 5.5% to 5.4%, the lowest since May 2008.

The pound had rallied to more than two month highs against the dollar on Friday after Prime Minister David Cameron's Conservative Party won a surprise majority in British elections.

As a result, the pound fell marginally lower against the USD earlier Monday as investors were keen on the monetary policy of Bank of England and as demand for the greenback remained broadly supported. We still remain on sideways as the pound was steady with GBP/USD at 1.5457 with no clear signals.