Pound Sterling trades stably ahead of UK data, BoE decision
The Pound Sterling (GBP) starts the Bank of England’s (BoE) monetary policy week on a cautious note against its major peers. However, the British currency braces for volatility and might face selling pressure this week amid a flurry of economic data releases and strong expectations that the Bank of England (BoE) is expected to cut interest rates by 25 basis points (bps) to 3.75%. Read more…
GBP: Soft UK GDP pressures Sterling – ING
Weak UK GDP data has weighed on the pound ahead of a pivotal week featuring jobs data, CPI and a likely Bank of England (BoE) rate cut. While markets still underprice easing and point to EUR/GBP upside next year, extremely bearish sterling positioning raises the risk of a sharp short squeeze on any positive surprise, ING’s FX analyst Chris Turner notes. Read more…
GBP/USD holds steady above mid-1.3300s as traders await key data and BoE this week
The GBP/USD pair remains on the defensive during the Asian session on Monday, though it lacks bearish conviction and holds above the 200-day Simple Moving Average (SMA) pivotal support. Spot prices currently trade around the 1.3360 region, nearly unchanged for the day. Read more…