The British pound is weak in US dollars before the Federal Reserve Policy decision
The British pound (GBP) falls a little to nearly 1.2400 against the US dollar (USD) at the European session on Wednesday. The GBP/USD pair decreases with the US dollar recovery before the FBI’s monetary policy decision, which will be announced at 19:00 GMT. The US dollar index (DXY), which tracks the value of Greenback for six main currencies, is approximately 108.00.
Traders trust that the Federal Reserve will announce a stoppage of current policy and maintain interest rates unchanged within 4.25 % -4.50 %, according to the CME Fedwatch tool. In the last three policy meetings, the Federal Reserve reduced the main borrowing rates by 100 basis points (BPS). Read more …
GBP/USD expectations: Axis level forms at 1.2450, eyes on the Federal Reserve Bank
After picking up a series of three -day win on Tuesday, GBP/USD remains in a standardization stage in about 1.2450 in the European session on Wednesday. Investors are likely to refrain from taking great positions before the Federal Reserve monetary advertisements (Fed).
The negative transformation seen in the US dollar risk mood (USD) helped the superiority of its competitors and forced GBP/USD to stay on Tuesday. Investors are concerned about the uncertainty surrounding the Trump administration’s commercial policy. Speaking to correspondents late on Tuesday, the US press secretary Donald Trump Caroline Levit said that the plan to impose Canada and Mexico while punishing the customs tariff on February 1 is still playing. Read more …
