Sterling was quoted at 1.3405 against the U.S. dollar early Tuesday, ahead of the Bank of England’s next rate decision Thursday and a U.S. employment report Friday.
FXStreet reported the GBP/USD reading at 12:31 a.m. ET (05:31 UTC). A RateProbability dashboard showed an implied 94.4% chance of a quarter-point increase in an Oct. 30 reading. That figure reflects market pricing, not an announced central-bank decision. EconoTimes previously covered sterling’s trading level alongside the rate-probability reading.
Bank Rate remains 3.75%. At its September meeting, the Bank’s Monetary Policy Committee voted 6-3 to leave it unchanged, with three members supporting a rise of 25 basis points to 4%. The Bank said U.K. consumer price inflation reached 3.1% in August and that policy was aimed at returning inflation sustainably to 2%.
ING THINK analysts James Smith, Michiel Tukker and Chris Turner forecast a quarter-point increase at the Nov. 5 meeting, with a 7-2 vote. That is their projection, not a confirmed outcome.
U.S. voters are holding midterm elections Tuesday, Nov. 3. All 435 House seats and one-third of Senate seats are up for election in a midterm, according to USAGov.
The Bureau of Labor Statistics (BLS) has scheduled its October Employment Situation report for Friday, Nov. 6, at 8:30 a.m. ET (13:30 UTC). Its September report, published Oct. 2, said nonfarm payroll employment increased by 29,000 and unemployment was 4.2%.
FXStreet disclosed that AI assisted with its technical analysis. The outlet reported a 57.9 reading for the 14-day Relative Strength Index. On its chart, it marked 1.3465 above the market and 1.3385 below it, near the 100-day simple moving average.
