GBP Price Forecast: Pound Slips as BoE's Bailey Hints at Peak Rates
GBP prices softened as BoE Governor Bailey hinted at a possible peak in UK interest rates while markets keenly await Fed Chair Jerome Powell and other Fed speakers.
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GBP prices softened as BoE Governor Bailey hinted at a possible peak in UK interest rates while markets keenly await Fed Chair Jerome Powell and other Fed speakers.
The BoJ delivered a minimal tweak to policy this week with markets still betting on rate hikes in April 2024. USDJPY benefitted from a weaker US Dollar which should it continue could negate the need for full blown BoJ FX intervention.
GBP prices stayed elevated after the BoE decided to hold rates constant yesterday. Today, all eyes shift to US data including NFP and ISM services PMI’s.
GBP prices stay suppressed ahead of both the Fed and BoE interest rate decisions later this week.
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