The GBP/USD pair gains ground around 1.3135, snapping the three-day losing streak during the early Asian session on Monday.
GBP/USD holds positive ground near 1.3135 in Monday’s early Asian session. Fed rate cut expectationscontinue to undermine the US Dollar. The BoEis expected to cut one more 25 bps for the remaining year, according to a Reuters poll. In the absence oftop-tier economicdata releases from the UK this week, theUSDpricedynamicwill be the main driver for the GBP/USD. The US Nonfarm Payrolls for August will take center stage on Friday.
The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year.
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