{
  "id": 1433354,
  "title": "British Pound gathers strength above 1.3550 as softer US data cools Fed hike bets",
  "url": "https://urgent.news/2026/08/17/british-pound-gathers-strength-above-1-3550-as-softer-us-data-cools",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-17T05:52:11.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/british-pound-gathers-strength-above-13550-as-softer-us-data-cools-fed-hike-bets-202608170552"
  },
  "original_language": "en",
  "account": "The British Pound (GBP) strengthened to a level above 1.3550 against the US Dollar (USD) on Monday as softer-than-expected US economic data diminished expectations of a Federal Reserve rate increase. Traders closely monitored the UK's upcoming employment and inflation figures, scheduled for later in the week. US Retail Sales dropped in July for the first time in nine months, as the impact of large tax refunds waned, according to the US Census Bureau. The combination of milder US inflation than anticipated and unexpectedly high job losses bolstered market confidence that the Fed would refrain from raising interest rates at its meeting on September 15-16. This led to a reduced probability of a Fed rate hike at the upcoming policy meeting, now at 31%, down from 35% immediately after the Retail Sales release, per the CME FedWatch Tool. Senior economist Sal Guatieri of BMO Capital Markets stated that the stouter-than-expected UK economic growth, coupled with weaker job data and subdued core CPI inflation, raises the likelihood of the Federal Open Market Committee (FOMC) remaining patient in September. Bank of England (BoE) Chief Economist Huw Pill noted that more robust-than-anticipated UK economic growth reinforced the need for higher borrowing costs to bring inflation back to target. Strategists at Scotiabank highlighted that while the broader economic data calendar has offered limited fresh information, the BoE's ongoing hawkish policy messaging has provided strong support for the Pound. The GBP/USD pair maintained a bullish near-term trend as it held above the 100-day simple moving average (SMA) and the 20-day Bollinger middle band, indicating supportive technical conditions. The immediate resistance level is observed at the Bollinger upper band around 1.3595, where a break could pave the way for the May 8 high of 1.3637. Conversely, initial support is noted at the Bollinger middle band near 1.3435, with the potential for a deeper decline towards the lower Bollinger band around 1.3273 if the trend reverses.",
  "summary": "The GBP/USD pair gains traction to near 1.3555 during the early European trading hours on Monday. The US Dollar (USD) weakens against the British Pound (GBP) as bets for a US Federal Reserve (Fed) rate hike come down.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Euro strengthens above 1.1550 as Fed rate hike bets fade",
        "url": "https://urgent.news/2026/08/17/euro-strengthens-above-1-1550-as-fed-rate-hike-bets-fade",
        "published": "2026-08-17T00:20:51.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "European shares tick higher as easing Fed hike bets lift gold",
        "url": "https://urgent.news/2026/08/17/european-shares-tick-higher-as-easing-fed-hike-bets-lift-gold",
        "published": "2026-08-17T07:24:35.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}