The pound (GBP) traded subdued against the other major currencies on Wednesday (12/3) as investors looked for fresh cues on next week's Bank of England (BoE) monetary policy meeting. Traders are confident that the BoE will keep interest rates unchanged at 4.5% as a number of officials have been guiding a ‘gradual and cautious' approach to monetary easing.
Last week, four BoE policymakers, including Governor Andrew Bailey, guided for a gradual path to "unwinding monetary policy restraint" as persistent inflation is unlikely to fade "on its own". Contrary to them, BoE member Catherine Mann supported a rapid policy easing approach due to "substantial volatility" coming from financial markets, especially from "cross-border spillovers".
This week, investors will focus on the UK's (UK) monthly Gross Domestic Product (GDP) and Industrial and Manufacturing Production data for January, due on Friday. The UK economy is expected to grow at a modest pace of 0.1%, compared with a 0.4% expansion seen in December. Monthly factory data is expected to decline in the first month of 2025. (Newsmaker23)
Source: FXstreet
The Pound Sterling (GBP) starts the week on a slightly positive note. The British currency ticks up as market experts have pared bets supporting a higher number of interest rate cuts by the Bank of En...
The GBP/USD pair kicks off the new week on a subdued note and oscillates in a narrow band, just above the 1.3400 round figure during the Asian session. Meanwhile, spot prices remain well within striki...
GBP/USD gains ground after registering small losses in the previous session, trading around 1.3440 during the Asian hours on Friday. The pair appreciates as the US Dollar (USD) edges lower due to dovi...
The pound (GBP) attracted buying interest against other major currencies on Wednesday (July 16th) following the release of higher-than-expected UK Consumer Price Index (CPI) data for June. The Office...
The GBP/USD pair consolidates near the 1.3430-1.3435 region, just above a three-week low touched during the Asian session on Tuesday as traders keenly await the release of the US consumer inflation fi...
The Australian Dollar (AUD) edges lower against the US Dollar (USD) on Tuesday after two days of losses. The AUD/USD pair remains subdued following the release of the Reserve Bank of Australia's (RBA) Meeting Minutes. The RBA Minutes of its July...
The Japanese yen hovered around 147.5 per dollar on Tuesday after gaining about 1% in the previous session, as investors continued to digest the weekend's election outcome. While the ruling coalition lost its majority in the upper house, the...
The Hong Kong stock market opened on a positive note today (22 July), with the Hang Seng Index rising by 30 points, or 0.12%, to 25,024 points. The China Enterprises Index gained 11 points, or 0.13%, to 9,051 points, while the Technology Index...
Asia-Pacific markets traded mixed Monday, as investors keep a close watch on the People's Bank of China's decision on its 1-year and 5-year loan...
European stocks opened the week on a cautious note, with both the STOXX 50 and STOXX 600 hovering near the flatline as investors closely monitor...
Russia unleashed a renewed attack on Ukraine, targeting the country's central and western regions with drone and missiles as Kyiv's allies pledged...
The U.S. has signaled it will not let up on its Aug. 1 deadline for higher tariffs on the European Union as the bloc fights to strike a deal in...