Pound Sterling opened the week on a cautious note, trading under slight selling pressure against its major currency counterparts. As expectations mount for a potential interest rate cut by the Bank of England (BoE) in December, GBP/USD has been fluctuating around the 1.2390 level, reflecting a subdued market sentiment. This dovish outlook is influencing the exchange rate dynamics, with traders eyeing further developments from the central bank.
Meanwhile, GBP/EUR is also feeling the impact of these dovish bets, with the exchange rate hovering near 1.1500. The downward pressure on the Pound is a response to growing speculation about the BoE's monetary policy shift, as market participants reassess their positions. With uncertainty surrounding the UK economy, these movements may contribute to heightened volatility in the currency markets, particularly if the BoE signals a definitive course of action in its upcoming meetings.
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Data Source: FX Killer Analysis Team Updated: 2025-11-10 11:17
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.