Pound Falls As BoE Governor Bailey Signals Four Rate Cuts Next Yearfxcue.com

(fxcue news) - The British pound weakened against most major currencies in the European session on Wednesday, after the Bank of England (BoE) Governor Baily predicted four interest rate cuts in 2025. While speaking at an interview at the Global Boardroom Digital Conference hosted by the Financial Times (FT), the BoE Governor Andrew Bailey said that the policymakers expect four UK rate cuts next year as inflation eases. "We always condition what we publish in terms of the projection on market rates, and so as you rightly say, that was effectively the view the market had," Bailey said. When asked how U.S. President-elect Donald Trump's tariffs will affect inflation in the United Kingdom (UK), Bailey responded that these effects "are not straightforward to predict". In the European trading now, the pound fell to a 2-day low of 1.2630 against the U.S. dollar, from an early 2-day high of 1.2702. If the pound extends its downtrend, it is likely to find support around the 1.25 region. Against the euro and the Swiss franc, the pound edged down to 0.8302 and 1.1206 from an early 2-day highs of 0.8277 and 1.1257, respectively. The pound may test support near 0.84 against the euro and 1.11 against the franc. Meanwhile, the pound advanced to a 5-day high of 191.43 against the yen, from a slight fall of 190.07. The pound is likely to find resistance around the 194.00 region. Looking ahead, U.S. MBA weekly mortgage approvals data, U.S. and Canada services PMI data for November, U.S. EIA weekly crude oil data and U.S. Fed Beige report are slated for release in the New York session.

Pound Falls As BoE Governor Bailey Signals Four Rate Cuts Next Year

Bay Street Likely To Open On Firm Note

Japanese Market Modestly Lower

Dollar Tree Q3 Beats Market

U.S. Private Sector Employment Climbs Slightly Less Than Expected November

Eurozone Private Sector Re-Enters Contraction Zone

Pound Falls Against Most Majors

Pound Falls As BoE Governor Bailey Signals Four Rate Cuts Next Year

U.S. Private Sector Job Growth Falls Modestly Short Of Estimates In November

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Trader

Buy long near the current gold price of 2622, with targets of 2633, 2642, and 2650; If three points of 2642, 2650, and 2664 are given for the first time, short selling is allowed; If you buy more in batches around three o'clock on 2619, 2616, and 2610;

Buy more near the opening of gold at around 2606, lose 2598, look at 2620, 2626; Short selling is available near 2647 first!

Gold trading: 2615 short selling, loss 2624, take profit 2593

Gold short selling stop loss...

Today's gold trading strategy 1: Buy long until it falls back to around 2589, lose 2582, look short around 2615, target 2620-25; Strategy 2: Short sell when the rebound reaches around 2625, with a loss of 2633. Short look around 2590, with a target of 2560.

Sell near spot gold 2604, protect 2614, target 2582-2570; Break through holding;

Gold bought more at 2590 in the morning session of the Asian market today, 2585, with a target of 2610.

Tags

Pound Falls As BoE Governor Bailey Signals Four Rate Cuts Next Year

Bay Street Likely To Open On Firm Note

Japanese Market Modestly Lower

Dollar Tree Q3 Beats Market

U.S. Private Sector Employment Climbs Slightly Less Than Expected November

Eurozone Private Sector Re-Enters Contraction Zone

Pound Falls Against Most Majors

Pound Falls As BoE Governor Bailey Signals Four Rate Cuts Next Year

U.S. Private Sector Job Growth Falls Modestly Short Of Estimates In November

Please sign in

Trader

Buy long near the current gold price of 2622, with targets of 2633, 2642, and 2650; If three points of 2642, 2650, and 2664 are given for the first time, short selling is allowed; If you buy more in batches around three o'clock on 2619, 2616, and 2610;

Buy more near the opening of gold at around 2606, lose 2598, look at 2620, 2626; Short selling is available near 2647 first!

Gold trading: 2615 short selling, loss 2624, take profit 2593

Gold short selling stop loss...

Today's gold trading strategy 1: Buy long until it falls back to around 2589, lose 2582, look short around 2615, target 2620-25; Strategy 2: Short sell when the rebound reaches around 2625, with a loss of 2633. Short look around 2590, with a target of 2560.

Sell near spot gold 2604, protect 2614, target 2582-2570; Break through holding;

Gold bought more at 2590 in the morning session of the Asian market today, 2585, with a target of 2610.

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