The GBP/USD experienced a rebound after reaching its lowest level since March, near the 1.2100 area. After a prolonged rally, the US Dollar finally pa
used, leading to a rebound of the Cable. This move was aided by a retreat in US yields and an improvement in market sentiment. However, the rebound is a healthy correction at this stage. In the upcoming week, the focus will be on US data, all the reports that the US Government shutdown allows.The United Kingdom Office for National Statistics reported on Friday that in the three months leading up to the end of June, Gross Domestic Product expanded by 0.
Harmonized Index of Consumer Prices rate dropped to 4.3% in September, marking the lowest level in nearly two years. The following top-tier report, the monthly Gross Domestic Product , will be released on October 12. The Bank of England decision is scheduled for November 2, and before that meeting, members of the MPC will receive a new inflation report, which will be crucial in the votes.meeting is currently around 40%. However, market expectations rise to nearly 90% for a rate hike during the first quarter of next year.
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