The Pound Sterling (GBP) remains on a bearish trajectory as investors worry about the UK’s economic outlook. The GBP/USD pair weakens further as a per
. The GBP/USD pair weakens further as a persistent Consumer Price Index and a restrictive interest rate policy by the Bank of England continue to accelerate the burden on households. The outlook for the GBP/USD pair worsened further as the UK’s Services PMI remained below the 50.0 threshold for the second straight month in September in an S&P Global preliminary PMI report.vowed to keep interest rates sufficiently high for a longer period.
A sudden pause in the BoE’s rate-hiking regime indicates that the central bank is done with hiking rates and will keep them higher long enough until the achievement of price stability. The release of UK Manufacturing and Services PMI below the 50.0 threshold indicates that overall economic activities are contracting, signaling a vulnerable economic outlook.
The market mood remains cautious as investors are worried about the global economic outlook as central bankers are expected to keep interest rates sufficiently high for a longer period.
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