Pound Sterling ticks higher ahead of BoE policy decision, UK Employment
The Pound Sterling (GBP) is slightly higher against its major peers, with investors focusing on the Bank of England’s (BoE) interest rate decision on Thursday. Traders are increasingly confident that the BoE will keep borrowing rates steady at 4.5%, with a 7-2 vote split.
BoE Monetary Policy Committee (MPC) members Catherine Mann and Swati Dhingra are expected to support an interest rate cut. Both officials voted for a larger-than-usual interest rate reduction of 50 basis points (bps) in the February policy meeting, while others favored a usual cut of 25 bps. Read more...
GBP/USD Forecast: Pound Sterling could extend uptrend once it stabilizes above 1.3000
After rising more than 0.4% on Monday, GBP/USD continued to edge higher and touched its strongest level since early November above 1.3000 on Tuesday before going into a consolidation phase. The pair's short-term technical outlook shows that the bullish bias remains unchanged.
The positive shift seen in risk mood following a bullish opening in Wall Street made it difficult for the US Dollar (USD) to find demand and helped GBP/USD post daily gains on Monday. In the meantime, the data published by the US Census Bureau showed that Retail Sales rose by 0.2% on a monthly basis in February, missing the market expectation for an increase of 0.7% by a wide margin. Read more...
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD flirts with this year highs as USD resumes slide
The Australian Dollar surged against its American rival approaching the yearly high of 0.6437. The cautious tone of equities was not enough to help the Greenback, weighed by trade tensions between the US and China.
Gold extends gains towards $3,350
Gold price slowly advanced on Monday, starting the new day just ahead of the $3,350 amid broad US Dollar weakness. Caution kept market activity limited ahead of first-tier data releases next Wednesday.
EUR/USD drifts lower to near 1.1400 on tariff uncertainty
The EUR/USD pair edges lower to near 1.1415 during the early Asian session on Tuesday. The Euro weakens against the US Dollar amid rising bets for further rate cuts from the European Central Bank in June.
Bitcoin: Will Trump’s 100-Day speech propel BTC above $100,000?
Bitcoin rebounds as high as $95,490 on Monday, as Trump’s 100-day speech dominates macro news. On-chain data shows BTC deposits on exchanges declined by $4 billion in the past week. Here’s how these insights could impact Bitcoin $100,000 breakout prospects in the near-term.
Week ahead: US GDP, inflation and jobs in focus amid tariff mess – BoJ meets
Barrage of US data to shed light on US economy as tariff war heats up. GDP, PCE inflation and nonfarm payrolls reports to headline the week. Bank of Japan to hold rates but may downgrade growth outlook. Eurozone and Australian CPI also on the agenda, Canadians go to the polls.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.