GBP/USD Gains Momentum Near 1.2600 Ahead of BoE Monetary Policy Decision
The GBP/USD pair is showing positive momentum, edging higher towards the 1.2600 mark following a decline of more than 1% post-Federal Reserve’s hawkish stance on Wednesday. The pair is currently trading around 1.2590 during Asian hours.
The Pound Sterling gains support ahead of the Bank of England’s (BoE) imminent decision to likely hold interest rates steady. Traders are focused on how the BoE plans to tackle the ongoing inflation challenges in the UK economy.
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