The GBP/USD pair trades flat near 1.2950 during the early Asian session on Tuesday.
GBP/USD flat lines around 1.2950 in Tuesday’s early Asian session. The Greenback loses ground in response to improved polling for Democratic candidateKamala Harris. The Bank of England is expected to cut interest rates at its November meeting on Thursday. Traders will closely monitor the outcome of the US presidential election. On Thursday, the attention will shift to the Bank of England and the US Federal Reserve monetary policy decisions.
The Pound Sterling is issued by the Bank of England . How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
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