The post Pound Sterling Price News and Forecast: GBP/USD recovers some losses appeared on BitcoinEthereumNews.com.

Pound Sterling recovers some losses as BoE refrains from aggressive easing cycle The Pound Sterling (GBP) recovers some of its losses but still remains negative against its major peers in Thursday’s New York session. The British currency bounces gradually as the Bank of England (BoE) avoids endorsing an aggressive policy-easing stance on interest rates ahead. BoE Governor Andrew Bailey said in the press conference, “We need to make sure inflation stays low, and be careful not to cut interest rates too quickly or by too much.” On the United Kingdom’s (UK) service inflation outlook, Bailey commented, “Services price inflation may rise slightly in August before easing in the rest of the year.” Read More… GBP/USD Price Analysis: Edges lower yet remains above 1.2800 The Pound Sterling is under pressure in early trading during the North American session, dropping some 0.12% after the Bank of England (BoE) cut interest rates to 5.25% in a 5-4 tight vote split. Following the decision, the GBP/USD fell to its lowest level of 1.2750, yet has recovered somewhat, trimming some of its losses. The pair exchanges hands at 1.2837 at the time of writing. Read More… GBP/USD consolidates in a range around mid-1.2800s, looks to BoE for fresh impetus The GBP/USD pair struggles to capitalize on the previous day’s post-FOMC positive move and oscillates in a narrow trading band during the Asian session on Thursday. Spot prices currently trade around mid-1.2800s, nearly unchanged for the day as traders opt to wait on the sidelines ahead of the Bank of England (BoE) policy update. Read More…     Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-recovers-some-losses-202408011440

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Filed under: News - @ August 1, 2024 9:26 pm