GBP/USD Weekly Perspective: The sterling pound is prepared for the results of the Fed and BOE policy
The sterling pound (GBP) remained firm for the third consecutive week against the US dollar (USD) while the GBP/USD torque renewed maximum of 39 months above 1,3600. After an upward consolidation phase in the first half of the week, the GBP/USD recovered traction in the final part and reached the highest level since February 2022, about 1,3635. The volatile price action above was mainly attributed to the limited movement in the range of the US dollar while the markets evaluated progress in commercial conversations between the US and China.
After two days of conversations in London, the United States (USA) and China decided to soften export controls, including rare earths, and agreed to keep the tariff truce effective. The US dollar won briefly but fell red again in a family range due to the lack of specific details about the commercial framework. Read more…
GBP/USD is consolidated around half 1,3500 before the key data risks/events of the central bank this week
The GBP/USD torque remains defensive below a maximum of three years reached on Friday, although it lacks bassist conviction and oscillates in a narrow range about half 1,3500 during the Asian session. The operators seem reluctant and choose to wait for the key data risks/events of the central bank this week before positioning themselves for the next phase of a directional movement in cash prices.
The latest inflation figures to the United Kingdom consumer will be published on Wednesday before the Bank of the Bank of England (BOE) on Thursday, which will play a key role in the influence on the sterling pound (GBP). In addition, the US Federal Reserve (FED) is scheduled to announce its policy decision on Wednesday, which will promote the US dollar (USD) and provide a significant impulse to the GBP/USD torque. Read more…
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
