GBP/USD holds above 1.3310 ahead of BoE rate decision – BBH

FXStreet Insights Team FXStreet

GBP/USD trades cautiously above 1.3310 as markets brace for today’s Bank of England meeting. A 25bps cut to 3.75% is widely expected, with a tight 5-4 vote likely, while guidance signaling gradual further easing could pressure the pound on crosses, BBH FX analysts report.

BoE widely expected to deliver 25bps cut to 3.75%

"GBP/USD is down but trading above yesterday’s low around 1.3312. The Bank of England (BOE) is widely expected to resume easing with a 25bps cut to 3.75%. The Monetary Policy Committee (MPC) vote split may be tight: 5 in favor of a cut versus 4 supporting no change."

"More importantly, the BOE will likely stress again that 'if progress on disinflation continues, Bank Rate is likely to continue on a gradual downward path'. That would undermine GBP on crosses."

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

AUD/USD stays bid above 0.7100 on Australian trade data, Mideast optimism

AUD/USD clings to minor recovery gains above 0.7100 in the Asian session on Thursday as a new Israel-Lebanon ceasefire keeps a lid on the safe-haven US Dollar. Meanwhile, strong AustralianTrade Balane data also help the Aussie pair sustain the bounce from weekly lows.

USD/JPY hovers near the 160.00 intervention threshold on Mideast tensions

USD/JPY struggles to find acceptance above 160.00 and retreats from a one-month high in the Asian session on Thursday amid fears that authorities will step in again to prop up the Japanese Yen. Furthermore, a new Israel-Lebanon ceasefire caps the US Dollar and supports the currency pair. However, renewed US-Iran tensions keep the downside limited in the Greenback and the pair.

Gold defends 200-day SMA; upside seems capped on Iran uncertainty

Gold recovers from a one-week low near $4,425, or the 200-day SMA, in the Asian session on Thursday, as news of an Israel-Lebanon ceasefire acts as a headwind for the safe-haven US Dollar. However, renewed hostilities in the Gulf, along with stalled US-Iran peace talks, keep geopolitical risks in play and should support the USD, checking the Gold price rebound.

Bitcoin drops below $65K amid reinforced bear market signals

Bitcoin dipped further below $65,000 on Wednesday, with onchain data from Glassnode signaling a market firmly in a bear phase. The decline has pushed prices back into a key valuation range between the Realized Price and the True Market Mean. Glassnode noted that a key shift in market structure has also emerged.

Kevin Warsh takes the Fed helm: What it means for the US Dollar

The Federal Reserve moves away from the highly predictable "forward guidance" model of the Jerome Powell era to a new “Kevin Warsh environment”, characterized by less communication, more policy surprises, and an increased focus on the Fed's complex balance sheet.

Recession on paper: What really moves the Canadian Loonie now?

Statistics Canada handed the headline writers a gift and the analysts a headache. Real GDP shrank 0.1% on an annualized basis in the first quarter, and with the fourth quarter of 2025 revised down to a 1.0% contraction, that is two negative quarters in a row, the textbook definition of a technical recession and Canada's first since the pandemic.