The GBP/USD pair trades on a stronger note around 1.3215 during the early Asian session on Monday.
GBP/USD trades in positive territory for the eighth consecutive day near 1.3215 in Monday’s early Asian session. Fed’s Powell signalled for a September rate cut but did not mention about the size and pace of the rate cut. BoE’s Bailey said it’s still too early to declare victory on inflation. The signal that the US Federal Reserve will start easing its monetary policy in September drags the Greenback lower and supports GBP/USD.
Its key trading pairs are GBP/USD, aka ‘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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