GBP/USD holds ground around 1.3350 as US Dollar weakens ahead of Fed decision
GBP/USD edges higher after four days of losses, trading around 1.3360 during the Asian hours on Wednesday. The pair gains ground as the US Dollar (USD) remains subdued ahead of US Federal Reserve (Fed) interest rate decision later in the North American session.
The US Fed is widely expected to leave its benchmark interest rate unchanged at 4.25% to 4.50% in July. Traders are now pricing in 97% odds of no change to interest rates at the July meeting, according to the CME FedWatch tool. Read more…
GBP/USD finds bottom ahead of key Fed rate call
GBP/USD found some balance on Tuesday, pumping the brakes on an extended backslide but falling just short of snapping its losing streak. The Cable pair caught an intraday technical rebound near the 1.3300 handle, and FX markets are coiling ahead of the Federal Reserve’s (Fed) latest interest rate decision, due on Wednesday.
There remains little of note on the economic calendar for the United Kingdom (UK) side, leaving Cable traders to grapple with a hefty dose of US data releases through the remainder of the trading week. Read more…
GBP/USD slips to 10-week low as JOLTS miss offsets Fed caution
GBP/USD registers modest losses of over 0.10% on Tuesday after jobs data in the United States (US) showed signs of cooling, according to the Job Openings and Labor Turnover Survey (JOLTS). The Federal Reserve (Fed) has begun its two-day monetary policy meeting, which will end on July 30. The pair trades at 1.3337 after dropping to a 10-week low of 1.3307.
The JOLTS report for June showed that vacancies fell from 7.769 million in May to 7.437 million in June, missing estimates of 7.5 million, according to the Bureau of Labor Statistics (BLS). Business reluctance to hire is due to uncertainty about tariff levels. The data comes ahead of the two-day meeting of the Fed, and of the Nonfarm Payrolls report for July, expected to show the economy added 102K jobs, below June’s 147K print. Read more…
