The Pound Sterling slides below 1.3000 against the US Dollar as UK Average Earnings decelerated in the three months ending in May. UK labor market reports the addition of fresh payrolls against a severe drawdown in the three months ending in April. Rising expectations for Fed rate cuts in September have weighed on the US Dollar....
Tag: BOE
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Pound Sterling retreats as UK labor market cools further, Fed policy in focus
The Pound Sterling declines from 1.2740 against the US Dollar due to weak UK employment data and a firm US Dollar. The BoE could struggle to shift toward policy normalization as steady UK wage growth offset the impact of weaker employment levels. Investors see the Fed arguing to maintain a restrictive framework for longer. The...
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Pound Sterling clings to gains ahead of UK employment, US inflation data
The Pound Sterling holds gains above 1.2500 inspired by strong UK Q1 GDP data. The UK economy expanded by 0.6%, moving out of the recession seen in the second half of 2023. Investors await UK employment and US inflation data for fresh guidance. The Pound Sterling (GBP) exhibits strength above the psychological support of 1.2500...
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Pound Sterling recovery stalls on hopes of BoE pivoting to rate cuts sooner than Fed
The Pound Sterling struggles to hold recovery, driven by the upbeat preliminary S&P Global/CIPS PMI report for April. Investors speculate that the BoE will shift to rate cuts in the June or August meeting. BoE Haskel wants to see more slack in labor demand to gain confidence that inflation will sustainably return to the 2% target....