{"id":95325,"date":"2020-01-29T08:58:55","date_gmt":"2020-01-29T13:58:55","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=95325"},"modified":"2020-01-29T08:58:55","modified_gmt":"2020-01-29T13:58:55","slug":"102217-gbp-usd-dollar-bid-against-pound-before-the-fomc","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102217-gbp-usd-dollar-bid-against-pound-before-the-fomc\/","title":{"rendered":"GBP\/USD: Dollar Bid Against Pound before the FOMC"},"content":{"rendered":"<p>The British pound is lower against the US dollar on Wednesday afternoon with all eyes focused on the monetary policy meeting of the US Federal Reserve later today. No changes to the level of US interest rates are anticipated but the central bank\u2019s comments on the future direction of policy will be closely scrutinised.<\/p>\n<p><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-usd-exchange-rate-today\/\">GBP\/USD<\/a> was lower by 24 pips (-0.17%) at 1.3003 with a daily price range of 1.30 to 1.303 as of 1.30pm GMT. Price changes were choppy throughout the day with prices oscillating around the 1.30 psychological level.<\/p>\n<p><a href=\"https:\/\/currencylive.com\/news\/currency\/usd\/\"><strong>The US dollar<\/strong><\/a><\/p>\n<p>The Federal Open Market Committee (FOMC) will make its decision at 19:00 GMT where it is most likely that the fed funds rate set by the central bank will stay set at the current target range of 1.50-1.75%.<\/p>\n<p>With the policy on hold, markets will be judging what is said by Fed Chair Jerome Powell in his press conference after the decision on interest rates is made. Some of the key topics likely to be raised in questions include the enduring low levels of <a href=\"https:\/\/currencylive.com\/news\/topic\/inflation\/\">inflation<\/a>, the general outlook for the US economy given the hiatus in trade tensions and any implications from the coronavirus outbreak in China.<\/p>\n<p><a href=\"https:\/\/currencylive.com\/news\/currency\/usd\/\"><strong>The British pound<\/strong><\/a><\/p>\n<p>Foreign Exchange markets have seen a risk-off tone in the past week, meaning selling risker currencies like the pound and buying haven currencies like the US dollar. This was over fears that a virus contagion would negatively impact <a href=\"https:\/\/currencylive.com\/news\/topic\/economics\/\">economic growth<\/a>. Concern is warranted given that China has now reported more cases of the 2019-NCoV virus than SARS in 2003.<\/p>\n<p>Nonetheless, affected currencies like the Chinese yuan and Australian dollar are off their lows. Some of this confidence to buy riskier currencies can be attributed to the idea that central banks, especially the Federal Reserve will loosen policy to adjust for any economic downturn that might be brought on by the coronavirus. That makes Fed Chair Jerome Powell\u2019s comments on the policy-implications of the coronavirus outbreak very relevant.<\/p>\n<p>Finally, in the last formality before \u2018Brexit Day\u2019 on Friday, the European parliament will vote today on the UK withdrawal agreement.<\/p>\n<hr \/>\n<h6><em>Currencylive.com<\/em><em> is a news site only and not a currency trading platform.<\/em><\/h6>\n<h6><em>Currencylive.com is a site operated by TransferWise Inc. (&#8220;We&#8221;, &#8220;Us&#8221;), 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 TransferWise 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.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>The British pound is lower against the US dollar on Wednesday afternoon with all eyes focused on the monetary policy meeting of the US Federal Reserve later today. No changes to the level of US interest rates are anticipated but the central bank\u2019s comments on the future direction of policy will be closely scrutinised. GBP\/USD [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5645,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1386,2139,1629,2196,1438,1453,1394,1387,1614,1398],"class_list":{"0":"post-95325","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-usd","9":"tag-brexit","10":"tag-coronavirus","11":"tag-economics","12":"tag-federal-open-market-committee","13":"tag-federal-reserve","14":"tag-fomc","15":"tag-gbp","16":"tag-inflation","17":"tag-interest-rate","18":"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: Dollar Bid Against Pound before the FOMC - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/102217-gbp-usd-dollar-bid-against-pound-before-the-fomc\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102217-gbp-usd-dollar-bid-against-pound-before-the-fomc\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102217-gbp-usd-dollar-bid-against-pound-before-the-fomc\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/USD: Dollar Bid Against Pound before the FOMC\",\"datePublished\":\"2020-01-29T13:58:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102217-gbp-usd-dollar-bid-against-pound-before-the-fomc\\\/\"},\"wordCount\":603,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102217-gbp-usd-dollar-bid-against-pound-before-the-fomc\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100662-gbp-usd-no-surprise-us-fed.jpg\",\"keywords\":[\"Brexit\",\"coronavirus\",\"economics\",\"Federal Open Market Committee\",\"federal reserve\",\"FOMC\",\"gbp\",\"Inflation\",\"interest rate\",\"usd\"],\"articleSection\":[\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102217-gbp-usd-dollar-bid-against-pound-before-the-fomc\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102217-gbp-usd-dollar-bid-against-pound-before-the-fomc\\\/\",\"name\":\"GBP\\\/USD: Dollar Bid Against Pound before the FOMC - 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