7/30/2021 3:23:53 PM GMT Improving COVID and strengthening economy encourage sterling. Bank of England meeting next week brings rate hike speculation. The contrast between Federal Reserve and BOE policies benefits the pound. FXStreet Forecast Poll sees consolidation below 1.4000. The rapidly improving coronavirus situation in the UK, a strengthening economy and rising inflation helped propel the sterling to its best close against the US dollar in a month. The GBP/USD rose 1.2% on the week, is up 2.1% since its low of 1.3628 eight sessions ago and reversed on Friday just shy of the 61.8% Fibonacci retracement of the May 31 to July 20 4.1% decline. Expectations for a positive economic assessment out of the Bank of England (BOE) and perhaps hints at the timing and conditions for a reduction in the Asset Purchase Facility were an undercurrent for the week’s gains.