The British pound is relatively unchanged from last week’s close with slight weakness against a bid USD this Monday morning. The Fed’s Harker released a mixed statement last night which included eliminating 50bps interest rate hikes going forward as well as removing the chance of the Federal Reserve lowering rate in 2023. The latter seemed to have bolstered the greenback because money markets as per the implied Fed funds futures currently price in a cut at some point towards the latter half of the year. Later today, yet another Fed speaker (Bowman) will be in focus and should she echo this hawkish sentiment, the pound could be in for further downside against the U.S. dollar going into tomorrow.
