The GBP/USD pair posts modest gains to near 1.3125, snapping the three-day losing streak during the early Asian session on Friday.
GBP/USD trades on a firmer note around 1.3125 in Friday’s early Asian session. The US Nonfarm Payrolls data will be in the spotlight on Friday. BoE’s Bailey said he sees a chance of a more aggressive rate reduction. However, the upside for the major pair might be limited as traders brace for the highly-anticipated US Nonfarm Payrolls data, which is due later on Friday.
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. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
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