Today News: GBP/USD [21 OCT 2021]

British pound loses ground as markets
doubt BoE hike in November

British pound has lost its traction after softer-than-expected inflation data.
Odds of a BoE rate hike in November declined to 32% from 59%.
Dollar finds its footing on rising Treasury bond yields

GBP/USD Struggling to Break Above 1.38

GBP is still well underpinned by market expectations that the
Bank of England’s monetary policy committee will
increase UK interest rates next month.

GBP/USD bounces up again and returns above 1.3800

The British pound has resumed its uptrend on Wednesday,
to resume the last two weeks’ rally after a corrective
reversal seen during the European session.

Flirts with session lows, around 1.3800 amid a
modest USD strength

The GBP/USD pair witnessed some selling on Thursday and
dropped to sub-1.3800 levels during the first half of the trading action
though lacked any follow-through.

British Pound Stalls After Push Higher

The British pound has gone back and forth during the trading session
on Wednesday, showing signs of hesitating after
the initial massive surge higher.