GBP/USD stays mildly bid below 1.1650 as BOE postpones meeting, UK data, US inflation eyed – by anilpanchal7 GBPUSD Macroeconomics BOE Fed RiskAppetite
Mixed sentiment, pre-data anxiety and China’s off restrict the Cable pair’s latest moves.Monthly prints of UK data, US inflation will be crucial for short-term directions.
BOE delays monetary policy announcement to September 22 as the nation mourns over the death of Queen Elizabeth II. Not only the “Old Lady”, as the BOE is sometimes called, but the majority of the UK activities are likely to be compressed during September, which in turn raises economic fears for the already struggling London and challenges GBP/USD buyers.
Elsewhere, comments from US Treasury Secretary Janet Yellen and some of the prominent Fed policymakers could also be considered a hurdle for the GBP/USD prices. US Treasury Secretary Janet Yellen mentioned that, during the CNN interview on Sunday, “Fed is going to need skill and luck to bring inflation down while maintaining labor market strength.
Amid these plays, the S&P 500 Futures struggle to extend the three-day uptrend around a fortnight top, easing from the intraday high of 4,094.50 of late. On the same line are the US 10-year Treasury yields, down one basis point to 3.31% at the latest.
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