Pound Sterling faces pressure in countdown to BoE decision
The Pound Sterling (GBP) trades lower against its major currency peers on Tuesday as traders shift their focus to the Bank of England’s (BoE) monetary policy announcement on Thursday.
The BoE is expected to leave interest rates unchanged at 3.75%, with a 7-2 majority, suggesting that the decision will be almost unanimous this time after very divided outcomes in the previous two meetings. Read more…
GBP/USD: Range-bound trading expected – UOB Group
The GBP/USD pair is anticipated to trade within a range between 1.3640 and 1.3710, following a recent decline. The outlook suggests that while downward momentum has eased, GBP is unlikely to decline further, note Quek Ser Leang, Senior Technical Strategist and Peter Chia, Senior FX Strategist at UOB. Read more…
GBPUSD: Modest gains as BoE meeting approaches – Scotiabank
The GBP is showing modest gains against the USD, outperforming G10 peers as markets prepare for the upcoming BoE meeting. Recent UK data has reduced expectations for easing, with a 25bps cut now priced in by June, note Shaun Osborne and Eric Theoret from Scotiabank. Read more…