Pound Sterling holds 1.3150 with US core PCE inflation on horizon
The Pound Sterling (GBP) performs strongly against its major peers on Friday, with investors gaining confidence that the policy-easing cycle by the Bank of England (BoE) will be gradual in the remainder of the year compared with that of its peer central banks.
According to money market pricing data, the BoE is expected to cut interest rates by 40 bps in the remaining year, while the European Central Bank (ECB) is projected to do the same by 65 bps, Reuters reported. In the same time frame, the Fed is estimated to cut its key borrowing rates by 100 bps, according to the CME FedWatch tool. Read more…
GBP/USD Forecast: Pound Sterling holds neutral stance ahead of key US data
After posting small daily losses on Thursday, GBP/USD holds its ground early Friday but continues to trade below 1.3200. Key inflation data from the US could trigger the next directional move in the pair.
The US Dollar (USD) preserved its strength on the back of robust macroeconomic data releases, causing GBP/USD to close the second consecutive day in the red. Read more…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-holds-13150-with-us-core-pce-inflation-on-horizon-202408301104