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Forex

GBP/USD Plummets Ahead of Fed, BoE Decisions

Guavy AI Editorial Team
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The GBP/USD exchange rate has been volatile in recent days, plummeting from its July high of 1.3558 to its current value of 1.3291.

This decline is likely due to investors reacting to mixed economic data and upcoming interest rate decisions by the Federal Reserve and Bank of England (BoE).

The ONS published inflation, jobs, and retail sales numbers last week, with inflation dropping in June but remaining above the 2% target for several years.

On Thursday, the BoE will announce its interest rate decision, with a possibility of a hawkish tilt from Andrew Bailey and his team.

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