{"id":101267,"date":"2020-06-18T03:00:37","date_gmt":"2020-06-18T07:00:37","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=101267"},"modified":"2020-06-18T04:21:09","modified_gmt":"2020-06-18T08:21:09","slug":"103440-gbp-usd-pound-mildly-lower-ahead-of-boe-rate-decision-us-jobless-claims","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103440-gbp-usd-pound-mildly-lower-ahead-of-boe-rate-decision-us-jobless-claims\/","title":{"rendered":"GBP\/USD: Pound Mildly Lower Ahead of BoE Rate Decision &#038; US Jobless Claims"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/news\/currency\/gbp\/\">Pound (GBP)<\/a> slips -BoE not expected to cut rates but are expected to increase asset purchase programme by \u00a3100 billion<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/news\/currency\/usd\/\">US Dollar (USD)<\/a> advances as second wave fears rise<\/strong><\/li>\n<li><strong>US initial jobless claims to show frustrating slow improvement in US labour market<\/strong><\/li>\n<li><strong>At 06:15 UTC, Pound US Dollar exchange rate trades -0.1% at US$1.2546<\/strong><\/li>\n<\/ul>\n<p>The Pound is trending lower for a third straight session on Thursday. The Pound US Dollar exchange rate settled on Wednesday -0.16% at US$1.2557.<\/p>\n<p>At 06:15 UTC, <a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-usd-exchange-rate-today\/\">GBP\/USD<\/a> trades -0.1% at US$1.2546 as investors look ahead to Bank of England monetary policy announcement and US jobless claims figures.<\/p>\n<div class=\"su-button-center\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-usd-exchange-rate-today\/\" class=\"su-button su-button-style-flat button-internalbutton\" style=\"color:#ffffff;background-color:#f92658;border-color:#c81f47;border-radius:5px\" target=\"_self\"><span style=\"color:#ffffff;padding:0px 22px;font-size:17px;line-height:34px;border-color:#fb688b;border-radius:5px;text-shadow:none\"> Check real time GBP to USD exchange rate<\/span><\/a><\/div>\n<p>The BoE is not expected to cut interest rates today. However, policy makers are expected to increase the central bank\u2019s asset purchase programme by \u00a3100 billion. There is a good chance that some policy makers will be more dovish and want to increase purchases by even more.<\/p>\n<p>The central bank has already acted on several occasions since the start of the coronavirus pandemic, slashing interest rates from 0.75% to 0.1% and adding \u00a3200 billion more to its quantitative easing programme.<\/p>\n<p>The BoE will be under pressure to act after data from the Office of National Statistics revealed that inflation in the UK increased at 0.5% year on year in May, its slowest rate since 2016. Consumer prices slumped as demand for non-essential goods evaporated in the coronavirus lockdown, fuel prices also plunged. Data last week also revealed that the UK economy contracted by a quarter in March and April.<\/p>\n<p>The US Dollar is advancing in early trade on Thursday, boosted by its safe haven properties as spiking coronavirus cases in some US states and in China have crushed hopes of a quick economic recovery.<\/p>\n<p>States such as California and Texas have recorded the highest daily increase in cases. Meanwhile Florida and Arizona recorded the second highest daily increase.<\/p>\n<p>China has put part of Beijing back under lockdown in an attempt to stem the spread of covid-19.<\/p>\n<p>Attention will now turn to US jobless claims figures later today. Analysts are expecting 1.3 million Americans to sign up for unemployment benefits, compared to 1.5 million in the previous week. Whilst this would be the lowest number in three months, it would also be around 6 times higher than the average in February, pre-coronavirus.<\/p>\n<p>Continuing claims, which show the number of people being required is expected to decline from 20.9 million to 19.8 million as states slowly start to reopen and take on employees.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) slips -BoE not expected to cut rates but are expected to increase asset purchase programme by \u00a3100 billion US Dollar (USD) advances as second wave fears rise US initial jobless claims to show frustrating slow improvement in US labour market At 06:15 UTC, Pound US Dollar exchange rate trades -0.1% at US$1.2546 The [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4509,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[2884,1439,1394,1536,1391,1397,1398],"class_list":{"0":"post-101267","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-usd","9":"tag-asset-purchase-programme","10":"tag-boe","11":"tag-gbp","12":"tag-jobless-claims","13":"tag-pound","14":"tag-us-dollar","15":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/USD: Pound Mildly Lower Ahead of BoE Rate Decision &amp; 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