The GBP/USD pair flat lines near 1.3110 during the early European session on Wednesday.
GBP/USD trades steady around 1.3110 in Wednesday’s early European session. US ISM Manufacturing PMI was weaker-than-expected inAugust. Investors expectthe BoE to leave interest rates unchanged in September. However, the risk-off sentiment ahead of the key US events could provide some support to the US Dollar and drag the major pair lower. The US JOLTS Job Openings and Fed Beige Book are due later on Wednesday.
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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