From FXStreet: 2024-05-08 04:12:25

Summary:
The Pound Sterling falls below 1.2500 against the US Dollar due to multiple headwinds. BoE expected to keep interest rates at 5.25% with less-hawkish guidance. Fed’s Kashkari supports steady interest rates for the year.

Summary:
GBP continues to dip below 1.2500 as US Dollar gains strength. Kashkari warns on stalling disinflation, supports maintaining rates. US Dollar Index rises to 105.50. Fed expected to cut rates in September. Focus on Fed speeches for USD direction.

Summary:
Technical analysis shows GBP dropping below 1.2500, facing resistance after H&S pattern break. Cautious outlook as GBP fails to sustain above 20-day EMA. RSI signals indecisiveness among investors.

Summary:
Pound Sterling (GBP) FAQs: Oldest currency, fourth most traded in FX. BoE monetary policy key for GBP value. Data releases and trade balance also impact GBP. Strong economy attracts investment and strengthens GBP.



Read more at FXStreet: Pound Sterling corrects amid uncertainty ahead of BoE’s policy decision