The Pound Sterling (GBP) has experienced a decline following the release of weak wage data, which has dampened the outlook for consumer spending and raised expectations for the Bank of England (BoE) to maintain a neutral interest rate decision in its November monetary policy meeting
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The dollar remains in the lead against the pound, driven by the positive performance of the US ISM Services PMI in August, which exceeded expectations and reached a six-month high of 54.5. This data further underscores the strength of the US economy.
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The Pound Sterling (GBP) has continued to lose strength, primarily due to S&P Global's report indicating a contraction in the United Kingdom's service sector.
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The Pound Sterling (GBP) is under significant selling pressure, potentially revisiting a 10-week low due to the prevailing risk-averse sentiment.
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The British Pound (GBP) is aiming for a significant recovery following a sharp decline, driven by growing concerns of a worsening economic downturn.
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The Pound Sterling (GBP) is facing uncertainty as investors await signals from the Bank of England (BoE) regarding the future of interest rates.
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Speaking at the Jackson Hole Symposium, BoE Deputy Governor Ben Broadbent noted the potential for policy rates to remain restrictive due to the lasting impact of surging prices.
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The GBP/USD pair is on a two-day gaining streak, trading around 1.2620 during Tuesday's Asian session.
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The GBP/USD pair extended its decline last week following Jerome Powell's remarks at the Jackson Hole Summit.
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