The GBP/USD pair trades on a stronger note around 1.2655 during the early Asian session on Monday.
GBP/USD edges higher to 1.2655 in Monday’s early Asian session. The softer US PCE inflation data prompted speculation that the Fed will cut the rate this year. The Opposition Labor Party is expected to win over the UK Prime Minister Rishi Sunak-led Conservative Party. The US Dollar edges lower as the US Personal Consumption Expenditures Price Index for May eased to its lowest annual rate in more than three years, which provides some support to the major pair.
Its key trading pairs are GBP/USD, aka ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders , and EUR/GBP . The Pound Sterling is issued by the Bank of England . How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England.
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