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GBP/USD holds firm despite interest rate hike bets shift

Guavy AI Editorial Team
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EUR USD GBP
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The Pound Sterling has retreated slightly against the US Dollar on Friday, but remains steady after Thursday's intervention day. The Greenback rebounded from its 30-day low, trading at around 1.3458.

This comes as traders are reconsidering bets on a Bank of England interest rate hike for September. The British Pound underperformed against major currency peers, trading marginally lower at around 1.3444 against the US Dollar during the European session.

The pair depreciated after three days of gains, with the GBP/USD losing ground due to the US Dollar's gain in support from a hawkish pause by the Federal Reserve and an internal FOMC policy split.

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