August 4, 2024 – Written by David Woodsmith
STORY LINK Pound Sterling Holds Firm Against Euro and Dollar Despite BoE Rate Cut
The Pound Sterling (GBP) dipped against Euro (EUR) and US Dollar (USD) in immediate reaction to the Bank of England (BoE) rate cut but was resilient amid relatively hawkish rhetoric and global dimension.
Sterling and the Dollar were both struggling for sustained support.
The Pound to Dollar (GBP/USD) exchange rate dipped to 4-week lows near 1.2750 before a recovery to 1.2800.
The Monetary Policy…
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