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GBPUSD backslides after BoE rate cut with NFP looming ahead

Started by forex4you, Aug 02, 2024, 06:44 am

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Aug 02, 2024, 06:44 am
GBPUSD backslides after BoE rate cut with NFP looming ahead

GBP/USD found a new hole in the floor on Thursday, declining towards the 1.2700 handle after fresh recession fears off the back of a miss in US Purchasing Managers Index (PMI) figures that mixed poorly with easing Pound Sterling flows after the Bank of England (BoE) delivered a broadly-expected quarter-point rate trim.

Source: GBPUSD backslides after BoE rate cut with NFP looming ahead
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