The British pound held above $1.363, close to its highest in over ten weeks, as traders awaited key central bank decisions. The Bank of England is expected to leave rates at 4% on Thursday while slowing its £100 billion annual bond unwind.
The latest data showed that UK inflation remained at 3.8% in August, as expected and matching the 18-month high recorded in July. Additionally, job data showed steady unemployment at 4.7%, wage growth of 4.8% excluding bonuses (4.7% including bonuses), and a slight payroll decline of 8,000, all broadly in line with forecasts.
BoE rate-cut bets were little changed, with markets pricing only a one-in-three chance of a move by December. Meanwhile, the US Federal Reserve is widely expected to cut rates by 25 bps today, with traders anticipating at least two more reductions by the end of 2025.
Source: Trading Economi
Pound Sterling (GBP) gained modestly against the dollar but underperformed the euro as stagnant productivity, soft labor demand, and sticky wage growth underscore the UK's stagflation risk, BBH FX ana...
The Pound Sterling (GBP) advances against the US Dollar (USD) at the start of the week during the European trading session. The GBP/USD pair jumps to near 1.3600as the US Dollar faces selling pressure...
GBP/USD rebounds from session lows and trades marginally higher on the day above 1.3550. The renewed selling pressure surrounding the USD following the inflation and Jobless Claims data help the pair ...
GBP/USD tested the 1.3550 area again for the fourth consecutive day on Wednesday, but has so far been unable to break higher. The market is likely to remain cautious ahead of the release of US consume...
The British pound (GBP) traded higher against other major currencies, except for the Antipodean currencies, on Wednesday. The British currency showed strength as market sentiment remained optimistic a...
The US Dollar (USD) is showing signs of stabilization heading into Wednesday's FOMC, with modest gains against most of the G10 currencies as it attempts to claw back a portion of this week's losses, Scotiabank's Chief FX Strategists Shaun Osborne...
The United States (US) Federal Reserve (Fed) will announce monetary policy decisions and publish the revised Summary of Economic Projections (SEP), the so-called dot plot, following the September policy meeting on Wednesday. Market participants...
The British pound held above $1.363, close to its highest in over ten weeks, as traders awaited key central bank decisions. The Bank of England is expected to leave rates at 4% on Thursday while slowing its £100 billion annual bond unwind. The...
President Donald Trump said on Tuesday that the US and China have reached a deal on TikTok. The deal will transfer the assets of the ByteDance-owned...
European stocks edged lower on Tuesday, with both the STOXX 50 and STOXX 600 slipping 0.2%, pausing after three straight sessions of gains. Traders...
The U.S. Federal Reserve holds its latest policy meeting this week with a historic challenge to its leadership pending in the courts and a rushed...
US stocks closed higher on Monday (September 15), driven by gains in technology stocks after President Donald Trump indicated that U.S.-China trade...