The Pound Sterling (GBP) retreats after soft wage data dampens consumer spending outlook and elevate hopes of continuation of a neutral interest rate
Pound Sterling remains on backfoot after UK wage report remains soft. BoE Pill kept doors open for further policy-tightening. The UK’s consumer inflation report for September is expected to remain soft. decision by the Bank of England in its November monetary policy. The GBP/USD pair remains on backfoot as the cascading effects of elevating energy prices could trigger a rebound in inflationary pressures in the United Kingdom economy.
US Secretary of State Anthony Blinken said on Monday that President Joe Biden will visit to Israel to meet Prime Minister Benjamin Netanyahu on Wednesday. The US Dollar Index finds cushion near 106.20 after correcting from weekly high at 106.80 amid cautious market mood. Meanwhile, investors await the speech from Fed Chair Jerome Powell, which is scheduled for Oct 19 before the Economic Club of New York.
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