The post GBP/USD loses ground on rising odds of BoE rate cuts appeared on BitcoinEthereumNews.com. GBP/USD falls to near 1.3250 due to increased BoE rate cut bets, Fed policy awaited GBP/USD loses ground for the second successive session, trading around 1.3250 during the Asian hours on Wednesday. The pair weakens as the Pound Sterling (GBP) declines following data from the British Retail Consortium (BRC) showing UK food prices falling at the fastest pace in nearly five years, strengthening expectations of upcoming Bank of England (BoE) rate cuts. Traders now assign roughly a 68% probability to a quarter-point BoE rate cut in December, as softer inflation and fiscal headwinds provide the central bank with greater scope to ease policy. Expectations for rate cuts also strengthened after reports that the Office for Budget Responsibility plans to lower its UK productivity growth forecast by about 0.3 percentage points, a downgrade that could widen the fiscal gap by nearly £20 billion. The revision has intensified concerns ahead of Chancellor Rachel Reeves’s November budget, which is expected to address a potential shortfall of up to £35 billion. Read more… GBP/USD sinks below 1.33 as UK fiscal woes deepen ahead of budget GBP/USD dives more than 0.50% on Tuesday as market participants digested news of the UK’s Office for Budget Responsibility (OBR), which plans to cut productivity, leading to a huge hole in the public finances. At the time of writing, the pair trades at 1.3280 after hitting 1.3247, its lowest level since August 1. The US Dollar is downbeat during the North American session amid a lack of catalysts linked to the Greenback. The US Dollar Index (DXY), which tracks the USD performance against a basket of six currencies, is down 0.10% at 98.70. The US President Donald Trump continued his trip in Asia and signed an agreement with the Japanese Prime Minister Sanae Takaichi on the US-Japan alliance and a framework for securing… The post GBP/USD loses ground on rising odds of BoE rate cuts appeared on BitcoinEthereumNews.com. GBP/USD falls to near 1.3250 due to increased BoE rate cut bets, Fed policy awaited GBP/USD loses ground for the second successive session, trading around 1.3250 during the Asian hours on Wednesday. The pair weakens as the Pound Sterling (GBP) declines following data from the British Retail Consortium (BRC) showing UK food prices falling at the fastest pace in nearly five years, strengthening expectations of upcoming Bank of England (BoE) rate cuts. Traders now assign roughly a 68% probability to a quarter-point BoE rate cut in December, as softer inflation and fiscal headwinds provide the central bank with greater scope to ease policy. Expectations for rate cuts also strengthened after reports that the Office for Budget Responsibility plans to lower its UK productivity growth forecast by about 0.3 percentage points, a downgrade that could widen the fiscal gap by nearly £20 billion. The revision has intensified concerns ahead of Chancellor Rachel Reeves’s November budget, which is expected to address a potential shortfall of up to £35 billion. Read more… GBP/USD sinks below 1.33 as UK fiscal woes deepen ahead of budget GBP/USD dives more than 0.50% on Tuesday as market participants digested news of the UK’s Office for Budget Responsibility (OBR), which plans to cut productivity, leading to a huge hole in the public finances. At the time of writing, the pair trades at 1.3280 after hitting 1.3247, its lowest level since August 1. The US Dollar is downbeat during the North American session amid a lack of catalysts linked to the Greenback. The US Dollar Index (DXY), which tracks the USD performance against a basket of six currencies, is down 0.10% at 98.70. The US President Donald Trump continued his trip in Asia and signed an agreement with the Japanese Prime Minister Sanae Takaichi on the US-Japan alliance and a framework for securing…