From Yahoo: 2024-05-01 07:00:55

The pound remains stable as traders await the Federal Reserve’s interest rate decision. Sterling held at $1.2488 after falling 0.55% on strong U.S. economic data. The euro stays flat at 85.46 pence. Global markets are quiet for May Day. Fed expected to keep rates at 5.25% to 5.5% with focus on Chair Powell’s comments. U.S. labour costs rose, impacting bond yields and dollar strength. Pound down 1.9% this year but outperforms euro. Bank of England rate cut expectations pushed back. BoE could start cutting rates in June, weakening GBP. British house prices fell in April, manufacturing in contraction.



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