The Pound Sterling (GBP) is facing significant downward pressure as it trades lower against major currency pairs ahead of the Bank of England's (BoE) crucial interest rate decision, set to be announced at 12:00 GMT. The GBP/USD exchange rate has slipped to 1.2400, reflecting a 0.5% decline, while the GBP/EUR is hovering around 1.1550, down 0.3% on the day.
Market sentiment is cautious, with traders closely monitoring the BoE's stance amid ongoing economic uncertainties. A potential rate hike could bolster the pound, yet concerns over inflation and economic growth may influence policymakers' decisions. As a result, the movements in GBP trading could set the tone for the currency's trajectory in the weeks ahead, impacting exchanges with both the USD and EUR.
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Data Source: FX Killer Analysis Team Updated: 2025-12-18 08:55
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.