- GBP shrugged off inflation declining to a 5 year low in August but beating forecasts.
- GBP/USD looks to the Federal Reserve’s monetary policy decisions and the Bank of England’s meeting on Thursday.to drive direction
- Boris Johnson is trying to soothe concerns over the Internal Market Bill which undermines part of the Brexit divorce treaty.
GBP/USD IN FAMILIAR RANGE PRE FED, BOE
GBP/USD trades in a tight range ahead of the FOMC rate decisions due 1900 BST. The central bank’s decisions will determine the pairs’ next move in the short term although it could remain rangebound until the BoE rate decision on Thursday. No change to interest rates is expected from either bank so attention will be firmly on their statements and whether they are more dovish or hawkish than expected.
UK inflation data was shrugged off inflation, as measured by consumer price index (CPI), declined to +0.2% YoY in August. This is a five year low and down from 1.0% in July, although above the zero pencilled in by analysts.
Currencylive.com is a news site only and not a currency trading platform. Currencylive.com is a site operated by Wise US Inc ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of Wise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.