The Pound Sterling (GBP) is stuck in a tight range around 1.2550 against the US Dollar (USD) in Monday’s London session.
The Pound Sterling juggles in a tight range around 1.2550 against the US Dollar as investors shift focus to the BoE policy decision. The BoE could provide meaningful cues on the timing of rate cuts amid easing price pressures. Slower US job growth and a contraction in the Services PMI have raised concerns over the economic outlook. The Pound Sterling is stuck in a tight range around 1.2550 against the US Dollar in Monday’s London session.
Investors’ confidence in Ramsden turning dovish escalated after he commented last month that risks of inflation remaining higher have receded. He also pointed out that inflation will not rebound again after returning to 2%, contrary to prior expectations that price pressure could revamp again. Technical Analysis: Pound Sterling trades back and forth near 1.2550 The Pound Sterling trades inside Friday’s trading range during Monday’s European session.
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