The British pound traded around $1.318 as investors awaited key economic data that could influence the Bank of England’s policy path. Last Thursday, the BoE kept interest rates unchanged, but the vote was tight, with five policymakers for holding and four for cutting, leaving markets focused on December. Traders will watch Tuesday’s employment report and Thursday’s flash Q3 GDP for clues, with current pricing suggesting a 25-basis-point cut is more likely than not. The UK economy is expected to grow 0.2% in Q3, marking a third consecutive slowdown. Unemployment is forecast to rise to 4.9%, the highest since May 2021, and wage growth is seen easing to 4.9% year-on-year. Investors are also anticipating late November’s budget from Finance Minister Rachel Reeves amid speculation of tax hikes.