GBP/USD Struggles On BoE Rate Cut Bets, Civil Unrest

From puprime.com

The pound sterling continues to experience downward pressure as markets speculate about the possibility of two additional interest rate cuts from the Bank of England (BoE) this year. Recently, the BoE reduced interest rates for the first time since March 2020, lowering the bank rate by 0.25 percentage points to 5%. BoE Governor Andrew Bailey emphasized that rate decisions would be made on a meeting-by-meeting basis, but investors are anticipating another rate cut this year, with a 55% probability for a move at the September meeting. Meanwhile, ongoing riots in the UK are negatively impacting interest in the pound by ... (full story)