The Pound Sterling faces selling pressure against its major currency peers during the European trading session on Monday after dovish comments on interest rates from Bank of England’s (BoE) Monetary Policy Committee (MPC) member Alan Taylor in a fireside chat at Deutsche Bank in London.
Pound Sterling Price Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the weakest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.01% | -0.05% | -0.08% | 0.00% | 0.16% | 0.13% | 0.15% | |
| EUR | -0.01% | -0.06% | -0.09% | 0.00% | 0.14% | 0.12% | 0.14% | |
| GBP | 0.05% | 0.06% | -0.02% | 0.08% | 0.19% | 0.17% | 0.20% | |
| JPY | 0.08% | 0.09% | 0.02% | 0.10% | 0.24% | 0.22% | 0.25% | |
| CAD | -0.01% | -0.00% | -0.08% | -0.10% | 0.15% | 0.12% | 0.14% | |
| AUD | -0.16% | -0.14% | -0.19% | -0.24% | -0.15% | -0.03% | -0.00% | |
| NZD | -0.13% | -0.12% | -0.17% | -0.22% | -0.12% | 0.03% | 0.02% | |
| CHF | -0.15% | -0.14% | -0.20% | -0.25% | -0.14% | 0.00% | -0.02% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
The comments from BoE’s Taylor, who voted for a 25 basis points (bps) reduction in interest rates in the policy meeting earlier this month, express concerns over the United Kingdom’s (UK) economic growth, optimism about inflationary pressures returning to the central bank’s 2% target, and supports more interest rate cuts in the near term.
“I have become more reassured that we are proceeding towards inflation normalisation at a reasonable pace,” Taylor said. His confidence in inflation normalization is based on the expectation that “service price inflation to normalise along with wage growth this year”.
On the interest rate outlook, BoE’s Taylor has stated that risks are shifting to “lower inflation and higher unemployment”; therefore, “we [the BoE] might have two-three rate cuts to go before theoretical neutral level.”
Against the US Dollar (USD), the Pound Sterling has surrendered almost its entire early gains and has turned almost flat to near 1.3485.
Earlier in the day, the GBP/USD pair gained sharply as the US Dollar (USD) slumped due to the United States (US) Supreme Court’s (SC) ruling against President Donald Trump’s tariff policy.
During European trading hours, the US Dollar Index (DXY) has recovered its entire early losses on expectations that President Donald Trump has many alternatives to keep trade deals afloat.
two to three
Source: https://www.fxstreet.com/news/pound-sterling-falls-sharply-after-boe-taylors-dovish-remarks-202602231147
