Pound Sterling Rises After BoE Rate Cut

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The Pound Sterling has strengthened after the Bank of England (BoE) cut interest rates by 25 basis points to 4.75%. While the rate cut was

The Pound Sterling has strengthened after the Bank of England (BoE) cut interest rates by 25 basis points to 4.75%. While the rate cut was expected, the BoE’s dovish forward guidance has also supported the Pound.

Key Factors Influencing the Pound Sterling:

  • BoE Rate Cut: The BoE’s decision to cut rates and its dovish outlook have supported the Pound.
  • US Dollar: A potential correction in the US Dollar, following its recent rally, could also benefit the Pound.
  • Global Economic Outlook: Concerns about global economic growth and trade tensions could impact the Pound’s performance.

Technical Analysis:

The Pound Sterling has recovered from recent lows, but the near-term trend remains bearish. The 20-day and 50-day EMAs are declining, indicating a potential downward trend.

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