Gbpusd

Jun 23, 2024

The British pound fell below $1.27 after the Bank of England left the key bank rate steady at 5.25% as expected, with only two members voting for a rate reduction, the same as in the previous meeting. However, the decision not to cut was “finely balanced” for some policymakers, in a sign a policy ease should come this year. The odds for a rate cut in August increased and for September as well, but markets have the first 25bps cut fully priced in for November only. On the political front, recent polls show Labour leading for the upcoming July 4th election, with Prime Minister Rishi Sunak's Conservative Party in second place.

Jul 18, 2024

Trade closed: target reached