The GBP/USD pair edges lower to 1.3310, snapping the three-day winning streak during the early Asian session on Monday.
GBP/USD trades on a softer note near 1.3310 in Monday's Asian session. Rising bet on further Fed rate cuts later this year might undermine the US Dollar. The preliminary September UK/US PMI data will be in the spotlight on Monday. The modest recovery of the US Dollar weighs on the major pair. Investors will focus on the flash reading of the UK and US Purchasing Managers Index data, which are due later on Monday.
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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