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The post GBP trades firmly against US Dollar appeared on BitcoinEthereumNews.com. Pound Sterling trades firmly against US Dollar ahead of Fed’s policy outcome The Pound Sterling (GBP) clings to Tuesday’s gains near 1.3640 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair holds onto gains as the US Dollar remains on the back foot amid firm expectations that the Federal Reserve (Fed) will cut interest rates in the monetary policy announcement at 18:00 GMT. At the time of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, holds onto losses near a fresh two-month low of 96.60 posted on Tuesday. Read more… UK inflation unchanged at 3.8%, Pound shrugs The British pound is unchanged on Wednesday, trading at 1.3645 in the European session. Today’s inflation report was a dour reminder that UK inflation remains entrenched. CPI for August was unchanged at 3.8% y/y, matching the consensus and its highest level since January 2024. Airfares decreased but this was offset by food and petrol prices. Monthly, CPI rose 0.3%, up from 0.1% in July and matching the consensus. Core CPI, which excludes volatile items such as food and energy, eased to 3.6% from 3.8%. Monthly, core CPI ticked up to 0.3% from 0.2%. The inflation report comes just a day before the Bank of England announces its rate decision. Inflation is almost double the BoE’s target of 2% and today’s release likely means that the BoE will not reduce rates before 2026. Read more… Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-trades-firmly-against-us-dollar-ahead-of-feds-policy-outcome-202509171209

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The post New Trump appointee Miran calls for half-point cut in only dissent as rest of Fed bands together appeared on BitcoinEthereumNews.com. Stephen Miran, chairman of the Council of Economic Advisers and US Federal Reserve governor nominee for US President Donald Trump, arrives for a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing in Washington, DC, US, on Thursday, Sept. 4, 2025. The Senate Banking Committee’s examination of Stephen Miran’s appointment will provide the first extended look at how prominent Republican senators balance their long-standing support of an independent central bank against loyalty to their party leader. Photographer: Daniel Heuer/Bloomberg via Getty Images Daniel Heuer | Bloomberg | Getty Images Newly-confirmed Federal Reserve Governor Stephen Miran dissented from the central bank’s decision to lower the federal funds rate by a quarter percentage point on Wednesday, choosing instead to call for a half-point cut. Miran, who was confirmed by the Senate to the Fed Board of Governors on Monday, was the sole dissenter in the Federal Open Market Committee’s statement. Governors Michelle Bowman and Christopher Waller, who had dissented at the Fed’s prior meeting in favor of a quarter-point move, were aligned with Fed Chair Jerome Powell and the others besides Miran this time. Miran was selected by Trump back in August to fill the seat that was vacated by former Governor Adriana Kugler after she suddenly announced her resignation without stating a reason for doing so. He has said that he will take an unpaid leave of absence as chair of the White House’s Council of Economic Advisors rather than fully resign from the position. Miran’s place on the board, which will last until Jan. 31, 2026 when Kugler’s term was due to end, has been viewed by critics as a threat from Trump to the Fed’s independence, as the president has nominated three of the seven members. Trump also said in August that he had fired Federal Reserve Board Governor…