GBP/USD attracts some sellers below the mid-1.2700s, all eyes on Fed, BoE rate decision
The GBP/USD pair remains under some selling pressure during the early Asian session on Tuesday. The uptick in the US Dollar (USD) above 103.50 and higher US yields provide some support to the major pair. Markets turn cautious ahead of the central bank meetings, including the Federal Reserve (Fed) and Bank of England (BoE) interest rate decisions. At press time, GBP/USD is trading at 1.2726, down 0.02% on the day.
The Fed is anticipated to keep its interest rate unchanged for a fifth straight time at its March meeting on Wednesday and signal that they still need further evidence that inflation to return sustainably to its 2% target. The Fed Chair Jerome Powell said earlier this month that the US central bank might cut its benchmark interest rate later this year, even though continued progress on lowering inflation to the target “is not assured.” Read more...
GBP/USD stabilizes ahead of key central bank decisions, UK’s inflation in focus
The Pound Sterling losses steam and treads water against the US Dollar as traders prepare for the announcement of major central banks' monetary policy decisions. The Bank of England and the US Federal Reserve are expected to hold rates unchanged, though a ‘hawkish tilt’ of the Fed might weigh on Sterling; the GBP/USD trades at 1.2727, barely down 0.04%.
Sterling awaits Fed and BoE decisions, as UK inflation could set the tone
This week, the US economic docket will feature housing data on the first two days of the week. Data from the National Association of Home Builders (NAHB) revealed that homebuilders' confidence rose in March to its highest level since July 2023, as mortgage rates dip, on expectations that the Fed might begin to ease policy. The NAHB Market Index came at 51, up from 48 in February. 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 hovers around 0.6750 amid cautious mood
AUD/USD is treading water near 0.6750 in Asian trading on Monday. The pair struggles amid a cautious market mood, as traders remain wary of the French elections. However, a subdued US Dollar cushions the Aussie's downside.
USD/JPY drops toward 160.00 as risk aversion seeps back
USD/JPY is falling toward 160.00 in the Asian session on Monday, having failed to sustain at higher levels. A softer risk tone and encouraging Japanese Labor Cash Earnings data lift the Yen, weighing negatively on the pair.
Gold price tumbles as PBoC’s keeps Gold buying on hold
Gold price attracts some sellers during the Asian session on Monday. The precious metal loses traction as the People’s Bank of China, the Chinese central bank kept Gold buying on hold for the second month in June, according to official data released on Sunday.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin falls below $55,000 level
Bitcoin dropped below $56,552 on Sunday, disrupting market structure and signaling a bearish outlook. Ethereum and Ripple also revisited their support levels, slipping below critical thresholds, indicating a possible downtrend for these assets in the days ahead.
French election: It’s all over for Marine Le Pen, but the left weighs on the Euro
The deciding vote in the French Parliamentary elections closed this evening, and the exit poll suggests a shock result. The winning party is the left alliance, the popular front, which was pulled together to try and keep Le Pen’s far right National Rally party out of power.