GBP/USD treading water as BoE and US PCE collide in 90-minute window: who wins?

Wednesday set the trap: GBP/USD spent the early part of the week trying to defend the 1.355 area, then folded. The pair drifted lower from the European open, accelerated through the New York session, and printed a session low near 1.3460 just after 18:00 GMT, before scraping back to close near 1.3480. Three things did the damage: Donald Trump’s Truth Social post pushed Brent above $110/bbl, the Fed held rates at 3.5%–3.75% with a divided FOMC vote, and Jerome Powell’s hawkish remarks pushed the 10-year Treasury yield above 4.4%.

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