The GBP/USD pair holds positive ground around 1.2885 during the Asian trading hours on Monday.
GBP/USD trades in positive territory for the second consecutive day near 1.2885 in Monday’s Asian session. The US Fed is expected to hold its interest rate at its July meeting on Wednesday. The markets see a 50% chance of a quarter-point rate cut by the BoE on Thursday. The uptick of the pair is bolstered by the softer US Dollar amid the hope of an interest rate cut by the Fed eral Reserve in September.
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. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
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