GBP/USD hits YTD high amid USD weakness, cautiously eyes 1.3000 amid BoE speculations – by christianborjon GBPUSD Currencies Majors
That said, money market futures had priced in a 92.4% chance for a 25 basis points rate hike by the Fed at the 25-26 July meeting, as shown by the CME FedWatch Tool.
In the meantime, the central bank bonanza continued ahead of the Fed’s blackout period to begin on Friday. The Fed’s Vice-Chair for Supervision, Michael Barr, stated the Fed still has “a bit of work to do” on rates. At the same time, Cleveland Fed President Loretta Mester commented that the economy is still robust while saying, “When the economy reopened, labor demand well outpaced labor supply, putting upward pressure on wages and price inflation.
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