Furthermore, the prevailing speculation that the BoE might hold off on rate hikes post the anticipated 25 bps increase in September might exert pressure on the GBP/USD trajectory. Given this backdrop, investors might opt for caution, awaiting substantial purchasing momentum to ascertain the pair’s future direction. Market participants now set their sights on the forthcoming US economic indicators, particularly the Conference Board’s Consumer Confidence Index and JOLTS Job Openings data, set to be released later today.
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