The Pound Sterling faces mild selling pressure on Friday even though the BoE favored a more gradual rate-cut path. Both the Fed and the BoE cut interest rates by 25 bps on Thursday. The Fed is expected to cut its key borrowing rates by 25 bps again in December. The Pound Sterling (GBP) trades lower against the US Dollar […]
The Pound Sterling gains sharply as traders pare BoE dovish bets. The BoE is expected to cut interest rates only once in the remaining two meetings this year. US NFP and the ISM Manufacturing PMI remained weak in October. The Pound Sterling (GBP) jumps to near 1.2950 against the US Dollar (USD) in Friday’s New York session after posting a […]
GBP/JPY pulls back from a multi-month peak, though the downside potential seems limited. The BoJ rate-hike uncertainty could undermine the JPY and lend some support to the cross. Traders look to the UK Autumn Budget for short-term impetus ahead of the BoJ on Thursday. The GBP/JPY cross edges lower during the Asian session on Wednesday […]
The Pound Sterling consolidates after recovering slightly on Thursday as BoE’s Mann said services inflation needs to decline further for more rate cuts. The UK flash PMI report shows that business activity continued to expand in October but at a slower pace. Traders seem to be increasingly betting that Donald Trump will win the US […]
The Pound Sterling declines to a fresh two-month low against the US Dollar ahead of BoE Bailey’s speech. Bailey may reiterate a dovish stance on the interest-rate outlook, signaling that more interest-rate cuts are on the way. The US Dollar outlook remains upbeat as uncertainty increases ahead of the US presidential election. The Pound Sterling (GBP) […]
Pound Sterling outperforms as BoEs slight dovish bets keep downside limited The Pound Sterling (GBP) outperforms its major peers on Tuesday, with investors focusing on Middle East tensions driving market sentiment. In Tuesday’s Asian session, Iran’s Foreign Minister Abbas Araqchi issued a warning to Israel that the nation will face a strong retaliation if it attempts to […]
GBP/USD attracts some sellers on Friday and is pressured by a modest USD strength. Bets for another oversized Fed rate cut in November should cap gains for the buck. A relatively hawkish BoE expectations should contribute to limiting losses for the pair. The GBP/USD pair drifts lower during the Asian session on Friday and moves […]
The Pound Sterling outperforms its major peers as UK Retail Sales grew at a faster-than-expected pace in August Fears of UK inflation remaining persistent have deepened after an acceleration in price pressures coming from the services sector. The Fed is expected to continue an aggressive policy-easing cycle. The Pound Sterling (GBP) performs strongly against its major […]
UK inflation data released on Wednesday quashes hopes the BoE will cut interest rates on Thursday. Whilst this is bad news for UK mortgage holders the Pound Sterling rose on the news. Eurozone revisions of flash estimates to its inflation showed a downwards revision, weighing on the Euro. EUR/GBP is trading lower on Thursday, exchanging […]
The Pound Sterling remains on backfoot against the US Dollar as expectations that the Fed will opt for a large rate cut decline. Investors see the BoE leaving interest rates unchanged at 5% at its September meeting. Market participants await the US PPI report for August. The Pound Sterling (GBP) struggles to hold the late Wednesday’s recovery move […]
UK final August Services and Composite PMI data were revised modestly higher to 53.7 and 53.8 (from 53.3 and 53.4 respectively), Scotiabank’s Chief FX Strategist Shaun Osborne notes. GBP consolidates in low 1.31 range “Details were constructive as well. Improved sentiment is boosting spending and hiring, the surveys suggest. Somewhat stronger economic momentum will not […]
The Pound Sterling falls below 1.3150 against the US Dollar after sticky US core PCE inflation. A decline in market expectations for the Fed’s large interest rate cuts supported the US Dollar. The policy-easing spell from the BoE is expected to be slower than that of its major peers. The Pound Sterling (GBP) extends its two-day losing spree […]
