Pound slips below $1.30 as BoE eyes rate cut

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The British Pound slipped below $1.30 for the first time this year as expectations mounted over the Bank of England (BoE) cutting interest rates in January.

Disappointing GDP data from the UK on Monday coupled with cautious comments from BoE’s policymaker Gertjan Vlieghe over the weekend have raised the probability of a rate cut to 47% in January. Should economic data continue to disappoint this month, the central bank may end up cutting interest rates for the first time since August 2016.

Focusing on the technical picture, the GBPUSD is under pressure on the daily charts with prices… Read More:

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