Pound drops before BoE showed inflation report

The British Sterling declined on Monday snapping its two-day gain against its U.S. counterpart before the Bank of England revealed its outlook for the nation's economy and the consumer price index in the quarterly report published this week. The Pound fell 0.1% to $1.6403 as of 8:01 a.m. in London following an advanced by 0.6% in the last two sessions.