Published by Jamie JemmesonThe pound edged higher in foreign exchange markets versus the euro yesterday (August 4th) as there was little impact following the Bank of England's decision to maintain interest rates at a record low of 0.5 per cent for another month.According to Reuters, the single currency fell to 86.80 pence, a 0.4 per cent decline, as bond buying was continued by the European Central Bank.The newswire noted that market confidence is currently being impacted by concerns that more monetary easing may be introduced, while interest rates are expected to stay at their current level for the foreseeable future.Moneycorp senior dealer Chris Redfern said: "Sterling is making slow progress against the euro, but if it can hold above technical support perhaps it will be able to push higher over the next couple of months."This follows comments made earlier this week by Chris Turner, IMG Head of FX strategy, suggesting the euro was likely to remain close to the 87.00 pence mark in foreign exchange trading.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site