The Pound Sterling (GBP) is stuck in a tight range as investors seem unwilling to build fresh positions ahead of the release of the UK Q3 Gross Domestic Product (GDP) data, published on Friday at 07:00 GMT.
BoE s Bailey says really too soon to discuss rate cuts zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.
GBP prices softened as BoE Governor Bailey hinted at a possible peak in UK interest rates while markets keenly await Fed Chair Jerome Powell and other Fed speakers.
FX Daily: Waiting For The Fed Pushback menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
Australian Dollar is taking a surprising dip today despite RBA's anticipated decision to raise the cash rate target by 25bps. Investors have taken this opportunity to lock in profits, influenced by the central bank's softened rhetoric on the immediate need for further rate hikes. It appears RBA is likely to pause again to evaluate the impact of its policy measures, likely awaiting Q4 data in February before considering additional moves.