Bot Window

GBPUSD waiting for Official Bank Rate

GBPUSD was up on Thursday after testing the low level of $1.2561 in the last trading session as the British pound fell to $1.26, testing its lowest in nearly one month and tracking the pressure in other G10 currencies as hawkish signals from the Federal Reserve triggered a sharp rise for the US dollar. The Fed lowered its funds rate by 25bps, as expected, but projected only two rate cuts next year to underscore growing inflation concerns by FOMC members.