Pound Sterling Price News and Forecast: GBP/USD is trading quietly above 1.30
GBP/USD is trading quietly above 1.30 – Scotiabank
The Pound Sterling (GBP) is also quietly consolidating in a tight range just above the psychologically important 1.30 level and finding some modest support following the release of slightly better than expected final services and composite PMI’s (printing marginally above expectations in the low 50s), Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
"Focus remains squarely centered on the UK’s fiscal situation ahead of the November 26 budget, with near-term risk surrounding the OBR (Office for Budget Responsibility) estimates for productivity and the likelihood of even greater fiscal shortfalls." Read more...
BoE set to hold rates – Can GBP/USD recover from its slide?
The Bank of England (BoE) is widely expected to hold rates at 4.00% in its upcoming policy meeting. After a gradual series of rate cuts earlier this year, policymakers have adopted a “wait-and-see” stance — cautious not to overstimulate a fragile economy while inflationary pressures remain uneven.
Although headline CPI has dropped closer to the 2% target, wage growth and services inflation continue to hover above comfort levels, keeping policymakers hesitant to signal an easing cycle. Governor Andrew Bailey emphasized that while progress has been made, “inflation is not fully conquered yet,” hinting that a prolonged holding phase may be necessary before the next move. Read more...
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FXStreet Team
FXStreet
