- The British pound decreases from 1.3,000 against the US dollar, where the DXY index finds offers near five months.
- Federal Reserve officials can offer more cuts in interest rates this year.
- The Federal Reserve and Benox is expected to maintain interest rates on interest rates on Wednesday and Thursday, respectively.
The pound (GBP) has a simple pressure for sale near the 1.3000 psychological number against the US dollar (USD) in the trading hours in North America on Tuesday. The GBP/USD pair is struggling to expand its upward trend as the US dollar index (DXY), which tracks the value of Greenback for six main currencies, finds interest in buying near the lowest level in the five months at 103.20.
Greenback investors are rising to caution before the results of the FBI’s monetary policy (Fed) on Wednesday. Investors will pay close attention to the FED plot, which shows the place where officials see the prices of federal funds heading in the near and long term, as the central bank is certainly maintaining interest rates within 4.25 % -4.50 % for the second time in a row.
FED can direct more interest rates this year when the March Policy meeting ends on Wednesday. In December, Federal Reserve officials directed collective interest rates collectively in 2025. The market expectations that the central bank can slightly turn on monetary policy expectations based on reducing inflationary pressures and the deterioration of consumer confidence.
Consumer price index data in the United States (the United States) for February showed that the basic inflation – which excludes food and volatile energy – rose by 3.1 %, the lowest level seen since April 2021. At the same time, the initial consumer feelings index in Michigan decreased in 57.9 in March compared to 63.1 and the previous reading of 64.7.
British pound price today
The table below shows the percentage of change in the British pound (GBP) against the main currencies listed today. The British pound was the strongest against the Australian dollar.
| US dollar | euro | GBP | JPY | CAD | Aud | Nzd | Chf | |
|---|---|---|---|---|---|---|---|---|
| US dollar | 0.06 % | 0.16 % | 0.25 % | 0.01 % | 0.44 % | 0.20 % | -0.19 % | |
| euro | -06 % | 0.08 % | 0.18 % | -06 % | 0.36 % | 0.13 % | -26 % | |
| GBP | -16 % | -08 % | 0.12 % | -0.14 % | 0.29 % | 0.05 % | -0.34 % | |
| JPY | -0.25 % | -18 % | -0.12 % | -0.27 % | 0.17 % | -0.09 % | -0.46 % | |
| CAD | -01 % | 0.06 % | 0.14 % | 0.27 % | 0.44 % | 0.20 % | -0.20 % | |
| Aud | -0.44 % | -0.36 % | -0.29 % | -0.17 % | -0.44 % | -0.24 % | -63 % | |
| Nzd | -0.20 % | -0.13 % | -05 % | 0.09 % | -0.20 % | 0.24 % | -0.39 % | |
| Chf | 0.19 % | 0.26 % | 0.34 % | 0.46 % | 0.20 % | 0.63 % | 0.39 % |
The heat map shows the percentage changes in the main currencies against each other. The basic currency is chosen from the left column, while the quotation currency is chosen from the top row. For example, if you choose the British pound from the left column and move along the horizontal line to the US dollar, the percentage offered in the box will represent the GBP (Base)/USD (quotation).
Daily Digest Market Movers: Pound Steling is cautiously circulating against his peers, BOE occupies the lead center
- The pound is trading with caution against its main peers, as investors focus on the interest in the Bank of England (BOE) on Thursday. Traders are increasingly confident that the Bank of England will remain borrowing rates fixed at 4.5 %, with a division of 7-2 votes.
- It is expected that members of the Monetary Policy Committee (MPC) Catherine Man and Swati Dingra will support the interest rate reduction. Both officials voted in favor of a larger reduction in the interest rate than usual for 50 basis points (BPS) at the February Policy meeting, while others preferred a usual reduction of 25 basis points.
- Investors will also focus on the Bank of England’s guidelines on monetary policy and the amount of tariff war led by US President Donald Trump on the economic expectations of the United Kingdom (UK). Traders expect that the Bank of England will reduce interest rates twice more this year, as the central bank has converted the total half of the GDP for the year to 0.75 % at the February Policy meeting.
- On Monday, the Economic Cooperation and Development Organization (OECD) reduced its British growth forecast for this year to 1.4 % of 1.7 % expected in December amid global economic uncertainty due to the US tariff agenda.
- On Thursday, investors will also focus on the UK labor market data for a period of three months ending in January before the England Bank policy meeting.
Technical analysis: The pound sterling is connected to the gains above 1.2900
The British pound attracts some offers after spreading a new four -month rise around the psychological level of 1.3,000 against the US dollar on Tuesday. The pair was established over a 61.8 % Fibonacci alternative, drawn from late September to mid -January, at 1.2930.
The long -term view of the GBP/USD pair remains optimistic that it exceeds the 200 -day SIA moving average (EMA), which is about 1.2700.
The relative strength index exceeds 14 days (RSI) 60.00, indicating that the strong bullish momentum is sound.
Looking down, the Fibo alternative by 1.2767 and Fibo alternative by 38.2 % at 1.2608 will serve as major support areas for the husband. On the upper side, the highest level on October 15 will be 1.3100 as a major resistance area.
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