GBP/USD Exchange Rate Faces Pressure ahead of BoE Rate Decision
The GBP/USD has faced some pullbacks recently after significant economic data releases. Following the Federal Reserve’s interest rate decision, the British pound dropped slightly against the U.S. dollar, reaching a low of 1.2400. Earlier this week, the pair peaked at 1.2500, showcasing the current volatility. Investors now turn their attention to the upcoming U.S. personal consumption expenditure (PCE) data and the Bank of England’s (BoE) impending rate decision. With the market remaining sensitive to economic indicators, the outlook for the British pound hangs in the balance as traders anticipate the central bank’s stance on monetary policy.