The GBP/USD pair has weakened on Thursday morning, as cautious sentiment prevailed in the market ahead of Bank of England’s monetary policy meeting.
Tag: interest rate hike
GBP/USD recovered after taking a break during the UK holiday on Monday.
The European Central Bank (ECB) is expected to raise key rates by 25 basis points which could provide support for the euro.
It is widely anticipated that on Wednesday, Federal Reserve officials will raise borrowing costs by a quarter of a percentage point, marking the 10th consecutive rate increase since March 2022. However, there is speculation among investors and economists that this may be the central bank’s final action before taking a pause. The US dollar has…