The pound is falling after the Bank of England held interest rates at 0.25 per cent, with two members of the monetary policy committee voting for a hike and six voting to hold rates. Some market-watchers had predicted that other MPC members would join Michael Saunders and Ian McCafferty in voting for a rise.
At pixel time, the pound is down 0.3 per cent against the dollar at $1.3187, having been up 0.3 per cent at $1.3255 before the announcement.
Its earlier rally was prompted by a monthly survey of services from IHS Markit which showed an improved performance, raising hopes the economy has had a solid start to the third quarter.
The pound is also down against the euro, sliding 0.3 per cent to £0.90.