Sterling rises toward 1.3320 as BoE officials back gradual easing ahead of Fed decision
AI Market Summary
GBP firms as BoE officials Lombardelli and Ramsden signal preference for gradual easing while still highlighting upside inflation risks, supporting a less aggressive cut path. GBP/USD also benefits from a softer USD ahead of the Fed decision, where markets heavily price a 25 bp cut and will focus on the statement, dot plot, and Powell for guidance. DXY drifts lower as rates expectations and labor-market concerns weigh on the dollar.
Impact level
● Medium
Affected assets
NCSIDXY2USD/USDT+0.17%
AI Insight · NCSIDXY2USD/USDTAI Insight
● Neutral
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Bank of England policymakers Clare Lombardelli and Dave Ramsden signaled support for a gradual loosening of monetary policy, while stressing that upside inflation risks remain. Markets are pricing in a 25-basis-point BoE rate cut next week. The Federal Reserve is also widely expected to cut rates by 25 basis points this week, with CME FedWatch showing an 87.6% probability. Sterling climbed toward 1.3320 against the dollar as the DXY slipped to around 99.10, and technical indicators showed GBP/USD holding above its 20-day moving average with the RSI at 58.9.
