The pound held near a one-month low against the dollar on Monday ahead of wage growth and inflation data this week that could help shape the Bank of England's next move at its policy review meeting next month.

Sterling was little changed at $1.30660 , near last week's one-month low of $1.30110, and flat against the euro at 83.70 pence .

The pound is about 2.8% below its two-and-a-half year high hit in late September as markets pared back bets on a jumbo size interest cut from the U.S. Federal Reserve.

Expectations that sticky inflation would keep the BoE on a gradual interest rate cut path relative to its peers - the Federal Reserve and the European Central Bank - had underpinned the pound's outperformance this year.

Money markets currently see an 85% chance of a 25 basis point interest rate cut from the BoE's November policy meeting, and are evenly split about another cut by the end of the year.

Meanwhile Prime Minister Keir Starmer is hosting some of the world's biggest businesses at a conference on Monday, where he will vow to scrap regulation that holds back growth and investment.

Source : Reuters