British Pound
The British pound remained below $1.31, the lowest level in about a month, after fresh labour data for the UK reinforced the bets the Bank of England will continue to cut borrowing costs, with another reduction expected next month.
Wage growth continued to slow and hit a fresh tow-year low in the three months to August, indicating easing pay pressures in the economy. Inflation data and retail sales figures are also due this week and will provide further insights on price pressures and consumer strength. At the same time, investors are also looking towards the 2025 Budget presentation later this month for clarity on government policies and taxes.
In addition, the pound has been pressured by a general dollar strength as the Federal Reserve is expected to reduce borrowing costs at a slower pace than previously thought. (Cay)
Source: Trading Economi
