British Pound Underperforms as BoE Rate Hike Doubts Mount
The British pound declined against major peers, with GBP/USD drifting to around 1.3444, as traders reassessed the likelihood of aggressive Bank of England rate hikes.
GBPUSD
The British pound came under pressure during European trading, slipping against its major counterparts. Market participants are dialing back expectations for imminent Bank of England tightening, weighing on the currency.
GBP/USD edged down to trade marginally lower near 1.3444, reflecting the diminished rate-hike conviction. The move extends the pound’s recent subdued performance as rate-sensitive flows reposition.
Source: FXStreet Forex News