The GBP/USD pair trades in positive territory for the seventh consecutive day near 1.3105 during the early European session on Friday.
GBP/USD gathers strength near 1.3105 in Friday’s early European session. Fed’s Collins said it will soon be appropriate to start cutting rates as data amid progress on inflation. The first reading of UK August PMI data came in stronger than expected, pushing back the expectation of a BoE rate cut. The confidence of investors that the US Federal Reserve will start easing monetary policy in the upcoming September meeting continues to undermine the US Dollar broadly.
Its key trading pairs are GBP/USD, aka ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders , and EUR/GBP . The Pound Sterling is issued by the Bank of England . How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England.
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