GBP/USD signals caution as BoE takes spotlight
GBPUSD made a modest push into the 1.3000 area following the FOMC policy meeting on Wednesday, which kept the door open for rate cuts amid ongoing uncertainty about the US economic outlook.
The Bank of England is next on the calendar today, and the pair is currently trading moderately lower at 1.2964 after UK claimant counts jumped unexpectedly in February. While the central bank is widely expected to hold rates steady, any shifts in its communication tone in response to trade and geopolitical risks could generate fresh volatility. Read more…
GBP/USD Forecast: Pound Sterling fails to attract buyers ahead of BoE
GBP/USD stays on the back foot and trades in negative territory below 1.3000 in the European morning on Thursday as markets assess the latest data releases from the UK, while waiting for the Bank of England’s (BoE) policy announcements.
The Federal Reserve left the policy rate unchanged at 4.25%-4.5% following the March meeting, as expected. The revised Summary of Economic Projections (SEP), also known as the dot plot, showed that policymakers still project a total of 50 basis points (bps) reduction in rates in 2025. Although the US Dollar (USD) struggled to gather strength with the immediate reaction, it managed to find a foothold during Fed Chairman Jerome Powell’s press conference. Read more…
