British Pound: Range-bound against US Dollar with muted BoE pricing – Scotiabank
Scotiabank’s Global FX Strategy team reports the British Pound (GBP) is flat versus the US Dollar (USD) but softer on crosses, with UK PMI data offering little new insight. Markets price minimal tightening for the September Bank of England (BoE) meeting and modest moves for November.
Scotiabank's Global FX Strategy team notes that the British Pound (GBP) remains range-bound against the US Dollar (USD), with minimal tightening expectations for the upcoming Bank of England (BoE) meeting. PMI data from the UK provided limited new insight, and GBP/USD technicals suggest a neutral to bearish outlook, with support near 1.3500–1.3450. However, the broader trend from June remains bullish.
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