Rabobank: GBP is facing a blow due to the cautious attitude of the Bank of England and political risks in the UK According to a report by Golden Finance on June 17th, Jane Foley from Rabobank stated that if the Bank of England shows caution in raising interest rates and the UK special elections intensify political concerns, the pound may fall. She said that the lower than expected UK inflation data on Wednesday intensified the debate about whether the Bank of England would extend its "wait and see" strategy on Thursday. If Andy Burnham wins the special election on Thursday, he may challenge the leadership of Prime Minister Kiel Stamer. His left-wing position and the prospect of the replacement of the conservative finance minister Rachel Reeves may worry the British treasury bond market and "destabilize the pound". The pound fell 0.1% to $1.3414, and Rabobank believes that the pound is at risk of falling to $1.33 in the next few months. The euro rose 0.1% to 0.8647 pounds.