The Pound Sterling (GBP) edges lower against the US Dollar (USD) but clings to gains near the round-level support of 1.3200 in Tuesday’s London session.
The Pound Sterling holds gains near 1.3200 against the US Dollar as bets supporting the Fed to opt for a large interest-rate cut surge. Investors expect the BoE to leave interest rates unchanged at 5% on Thursday. The UK core CPI is estimated to have accelerated to 3.5% in August. The Pound Sterling edges lower against the US Dollar but clings to gains near the round-level support of 1.3200 in Tuesday’s London session.
In the UK CPI report, investors will keenly focus on the Service inflation data, which is closely tracked by BoE officials. In July, annual service inflation decelerated sharply to 5.2%, the lowest figure in more than two years. Technical Analysis: Pound Sterling grips gains near 1.3200 The Pound Sterling holds gains near 1.3200 against the US Dollar in European trading hours. The near-term outlook of the GBP/USD pair remains firm as it holds above the 20-day Exponential Moving Average near 1.
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