empty
 
 

11.09.202613:28:51UTC+00Sterling Holds Near $1.35 Ahead of BoE Decision

The British pound hovered around $1.35 as investors weighed stronger-than-expected UK GDP data ahead of next week’s Bank of England policy meeting. UK output expanded 0.4% month-on-month in July, beating forecasts, while growth over the three months to July also remained at 0.4%.

Markets widely expect the BoE to keep interest rates on hold next week after Governor Andrew Bailey said on Tuesday that future decisions would hinge on economic and geopolitical developments, pushing back against the notion that another rate hike is inevitable. Even so, traders are fully pricing in four BoE rate increases by mid-2027, as the recent rally in oil prices continues to fuel inflation concerns.

In the US, the dollar stayed supported by rising expectations of a Federal Reserve rate hike next Wednesday, following stronger-than-anticipated core inflation data and indications that the labor market remains resilient.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $3000 more!
    In September we raffle $3000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback