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The Pound Sterling (GBP) trades mixed against its major peers on Tuesday, facing pressure as traders remain increasingly confident that the Bank of England (BoE) will cut interest rates by 25 basis points (bps) to 3.75% at its monetary policy meeting next week. BoE dovish expectations have been prompted by weakening United Kingdom (UK) labor market conditions and a slowdown in inflation. The latest survey by accountants KPMG and the Recruitment and Employment Confederation showed on Monday that permanent job placements remained weak last month in the run-up to Chancellor of the Exchequer Rachel Reeves’ budget on November 26 amid fears of possible tax increases, Reuters reported. On Monday, BoE external member Alan Taylor stated that inflation could return to the 2% target in the near term as both wage and services inflation have slowed down recently. “We’ve got our foot on the brake a little bit still, but I see us achieving the inflation target, as we should, in the near term,” Taylor said. For more cues on the UK interest rate outlook, investors will focus on BoE Governor Andrew Bailey’s speech, which is scheduled for Wednesday. This week, investors will also focus on the Gross Domestic Product (GDP) data for October, which will be released on Friday. Daily digest market movers: Pound Sterling remains sideways against US Dollar The Pound Sterling continues to trade in a tight range above 1.3300 against the US Dollar (USD) during the European session on Tuesday. The GBP/USD pair trades sideways as investors await the Federal Reserve’s (Fed) monetary policy announcement on Wednesday. At the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades flat inside Monday’s trading range around 99.00. The Fed is almost certain to cut interest rates by 25 basis points (bps) to…

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Filed under: News - @ December 9, 2025 9:30 am