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British Pound (GBP/USD) Remains Pressured as Key Central Bank Decisions Near

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  • Is the Fed looking at 75bps or 100bps?
  • The BoE will likely hike by 50 basis points.

British Pound Dollar Outlook: GBP/USD Remains Under Pressure at 1.3000

Cable may have a large shock of volatility next week when both the Federal Reserve (Fed) and the Bank of England (BoE) announce their latest monetary policy decisions. The Fed is expected to announce another 75 basis point rate hike next Wednesday but a 100bp hike cannot be ruled out, especially after last week’s US inflation release. The BoE is expected to raise rates by 50bps next Thursday although a 75bp hike cannot be discounted. Depending on the outcome of both meetings, the rate differential between the two currencies could either stay the same or widen by up to 50 basis points. If the UK/US rate differential widens further, cable is likely to trade back below 1.1500.


Sep 15, 2022 | DailyFX
Nick Cawley, Strategist

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