Pound Jumps On Bets Of Aggressive Fed Rate Cut
16 Setembro 2024 - 9:41AM
RTTF2
The pound climbed against its major counterparts in the New York
session on Monday, as investors raised their bets of a more
aggressive Federal Reserve rate cut at the monetary policy meeting
starting on Tuesday.
The Fed is all set to announce its first interest rate cut for
more than four years on Wednesday. However, expectations for a
half-point cut rose to 60 percent from 52 percent last week.
The Bank of England is expected to leave rates on hold at 5.00
percent on Thursday and investors would be watching for a decision
over the pace of its bond sales.
Data from the property website Rightmove showed that UK house
prices increased in September as the traditionally busier Autumn
market started early after the Bank of England's interest rate cut
lowered mortgage rates and the election results boosted
confidence.
House prices grew 0.8 percent on a monthly basis in September,
in contrast to the 1.5 percent decrease in August.
The pound touched 1.3214 against the greenback and 0.8421
against the euro, setting 10-day highs. The currency is likely to
locate resistance around 1.35 against the greenback and 0.82
against the euro.
The pound edged up to 1.1164 against the franc and 185.91
against the yen, from an early low of 1.1117 and a 5-day low of
183.77, respectively. The currency is seen finding resistance
around 1.13 against the franc and 193.00 against the yen.
Sterling vs US Dollar (FX:GBPUSD)
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