The British pound (GBP) isn’t having the best week either. Fresh job numbers from the UK came out weaker than expected, and now traders are betting that the Bank of England (BoE) might cut interest rates sooner — possibly as early as December.
That news sent GBP sliding down against major currencies like the USD and JPY. If you’re holding GBP/USD or GBP/JPY, you might’ve already seen the market move in real time. Lower job growth means less pressure on inflation, and that gives the BoE room to ease rates — not great for the pound’s strength.
👉 Quick thought: This could be a chance for short-term traders to ride GBP’s movement — but keep your stop loss tight. With upcoming inflation and wage reports, things could reverse fast.
That news sent GBP sliding down against major currencies like the USD and JPY. If you’re holding GBP/USD or GBP/JPY, you might’ve already seen the market move in real time. Lower job growth means less pressure on inflation, and that gives the BoE room to ease rates — not great for the pound’s strength.
👉 Quick thought: This could be a chance for short-term traders to ride GBP’s movement — but keep your stop loss tight. With upcoming inflation and wage reports, things could reverse fast.
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