The GBP/USD pair struggles to gain ground near 1.3125 during the Asian session on Friday.
GBP/USD holds steady around 1.3125 in Friday’s Asian session. Less dovish Fed and geopolitical risks might support the USD in the near term. The BoE said it could move more aggressively to cut rates if inflation pressures continued to ease. Traders prefer to wait on the sidelines ahead of the US employment data, including Nonfarm Payrolls , Unemployment Rateand Average Hourly Earnings, which are due later on Friday.
Its key trading pairs are GBP/USD, also known as ‘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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