The British pound declined in the context of the labor market an
The British pound's downward momentum looks set to continue amid cooling labor market and price pressures.
Data released on Tuesday showed a significant slowdown in macro data, with the UK Economic Surprise index falling sharply since mid-August. As a result, currency markets expect UK interest rates has peaked, meaning the BoE will keep interest rates unchanged at its meeting next week.
On the contrary, Fed forecasts suggest another interest rate hike before the end of the year. Furthermore, US economic growth looks stable - US Q3 GDP data due tomorrow is expected to rebound to 4.3% from 2.1% in Q2. Markets will also be watching the PCE report for more information on the Fed's direction going forward.
Data released on Tuesday showed a significant slowdown in macro data, with the UK Economic Surprise index falling sharply since mid-August. As a result, currency markets expect UK interest rates has peaked, meaning the BoE will keep interest rates unchanged at its meeting next week.
On the contrary, Fed forecasts suggest another interest rate hike before the end of the year. Furthermore, US economic growth looks stable - US Q3 GDP data due tomorrow is expected to rebound to 4.3% from 2.1% in Q2. Markets will also be watching the PCE report for more information on the Fed's direction going forward.
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