GBP/USD dips as markets eye BoE’s rate decision as a strong USD sets the tone

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GBP/USD dips as markets eye BoE’s rate decision as a strong USD sets the tone
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GBP/USD dips as markets eye BoE’s rate decision as a strong USD sets the tone – by christianborjon GBPUSD Currencies Majors

Bank of England

Investors focus on the potential Bank of England’s rate hike amidst easing inflation, while US housing data exceeds forecasts If inflation ticks higher, alongside a 25 bps rate increase by the BoE, it would require the delivery of a hawkish message that convinces the market that additional hikes are expected. In reaction, the GBP/USD is expected to appreciate, and it could challenge the 1.3000 figure.

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