GBP/USD, steady above 1.2020, approaches session highs at 1.2055 GBPUSD Currencies
On a wider perspective, the GBP/USD remains practically unchanged on the daily
, hovering within the lower range of the 1.20s after the reversal from six-month highs at 1.2450 seen last week.The pair lost momentum earlier this month after theslowed down the monetary tightening pace after its December meeting. The bank hiked rates by 50 basis points, with two of the nine committee members voting to leave rates unchanged.
The BoE’s decision has triggered speculation of an easier monetary tightening in 2023 and suggests that interest rates might peak at a lower level than previously estimated. Some market sources anticipate a Bank Rate peak at 4% next year instead of the previously expected 6%.
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