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British Pound Sticks To Range Before UK Labor Stats, Powell and US Inflation

May 13, 2024

Via: DailyFX

The British Pound made gains against the United States Dollar on Monday, but the currency remains within an established trading band before the week’s major scheduled trading events, most of which will come from the US.

The Bank of England’s May monetary policy meeting has come and gone. Interest rates weren’t altered, but markets were left with the impression that a reduction in June remains on the table even if an August move is more likely.

The prospect of the BoE moving before the Federal Reserve ought perhaps to have weakened Sterling more than it has.

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