The GBP/USD exchange rate was unchanged as traders waited for key statements and economic data from the UK and the US.
It also recoiled after the latest talks between Joe Biden and Kevin McCarthy on the debt limit issue.Economic data and Bailey's statement
President Joe Biden and Speaker Kevin McCarthy met on Monday and committed to not default. But divisions between the two parties remain substantially wide. While the two sides will likely reach an agreement later this month, the path to a deal will be long and difficult. It could also lead to more volatility in the market.
Economists expect the numbers to reveal that the services sector continued to outperform the manufacturing industry. In the two countries, manufacturing PMIs are expected to remain in a contraction area.
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