Pound Sterling clings to gains ahead of UK factory data, US Dollar slips

The Pound Sterling (GBP) continues its rally into a sixth day on Wednesday as investors shift their focus to United Kingdom factory data for August, w

Pound Sterling holds onto gains ahead of US factory and GDP data. UK factory data is expected to contract due to a vulnerable demand outlook. BoE’s Katherine Mann supports further policy tightening to bring down inflation to 2%. hich will be published on Thursday. The GBP/USD pair capitalizes on hawkish guidance from Bank of England policymaker Katherine Mann and upbeat market sentiment.

00 as Fed policymakers continue to support an unchanged interest rate policy in November due to rising Treasury yields. The volatility in the USD Index is expected to remain high amid the release of the Federal Open Market Committee minutes and the producer inflation data. The FOMC minutes will provide a detailed explanation behind September’s unchanged interest rate decision. Apart from that, outlook on inflation and interest rates will be keenly watched.

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