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Pound Sterling Dominated By Global Interest Rate Expectations, Markets On BoJ Intervention Watch
The US Dollar posted further net gains on Thursday as markets continued to price out an early Federal Reserve rate cut. The Pound to Dollar (GBP/USD) exchange rate hit 2-month lows just above the 1.2500 level before settling around 1.2535 while the Euro to Dollar (EUR/USD) exchange rate posted 8-week lows near 1.0700. Global interest rate expectations will remain a key element during Friday with shifting expectations continuing to drive underlying currency-market moves. There will, however, be other factors in play with an on-going risk of Bank of Japan intervention to support the yen as USD/JPY has driven to fresh ... (full story)