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GBP/USD remains on the defensive below 1.2200

November 3, 2023| Forex Market


The GBP/USD pair ticks lower during the Asian session on Friday and erodes a part of the previous day’s positive move to the 1.2225 region, or a one-and-half-week high. Spot prices currently trade just below the 1.2200 round-figure mark as traders now look forward to the release of the US monthly employment details for some meaningful impetus. Read More…


The GBP/USD continues to trade in positive territory after erasing Wednesday’s losses due to the US Federal Reserve holding rates unchanged, but speculators are not expecting further tightening by Jerome Powell and Co. Alongside that, the Bank of England (BoE) followed suit, keeping rates at a 15-year high, maintaining the major exchanging hands at around 1.2200, gaining nearly 0.40%. Read More…


The Pound Sterling (GBP) advances strongly as the Bank of England (BoE) has kept interest rates unchanged at 5.25%, as expected. BoE policymakers: Jonathan Haskel, Megan Greene, and Katherine Mann voted for a 25 basis points (bps) rate hike while the other six policymakers including new Deputy Governor Sarah Breeden, who has replaced Jon Cunliffe, advocated for keeping interest rates unchanged.  Dovish policymaker Swati Dhingra supported an unchanged interest rate decision but was expected to advocate a rate cut. Read More…


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