GBP/USD Price Forecast: Trades vulnerable below 1.3400 ahead of BoEs policy decision
The British Pound (GBP) is under severe pressure against the US Dollar (USD) during the early European trading session on Thursday, holding onto recent losses near 1.3378. The GBP/USD pair remains vulnerable as the US Dollar outperforms, following the Federal Reserves (Fed) monetary policy announcement on Wednesday. The British currency is expected to remain highly volatile as the Bank of England (BoE) is scheduled to announce its monetary policy at 11:00 GMT. BoE seen on hold as softer UK data give room to pause Strategists at Brown Brothers Harriman (BBH) note that the BoE is “widely expected to keep the policy rate at 3.75% for a sixth straight meeting” at Thursdays decision. They anticipate “another 6-3 vote,” with Megan Greene, Catherine L Mann and Huw Pill “backing a 25bps hike,” even as the majority opts to stay on hold. As the BoE is almost certain to maintain the status-quo, market reaction on the Pound Sterling will likely hinge on inflation and the monetary policy outlook. The Consumer Price Index (CPI) report showed on Wednesday that the headline inflation accelerated to 3.1% Year-on-Year (YoY) in August from 2.9% in July, with core figure remaining steady at 2.6% YoY. Discover more News Distributed & Cloud Computing Business Operations GBP/USD Technical Analysis In the









