- GBP/USD rose slightly on rising market optimism due to easing tensions in the Middle East.
- San Francisco Fed President Daly has backed the idea of initiating a 25 basis point rate cut.
- British Prime Minister Starmer may stress that “change won't happen overnight”, but he is keen to tackle bigger problems.
GBP/USD rose slightly after fears of an impending wider conflict in the Middle East eased after a gunfight between Israel and Lebanon's Hezbollah failed to escalate further, Chairman of the US Air Force Joint Chiefs of Staff CQ Brown told Reuters early Tuesday as he concluded a three-day visit to the region. The risk-sensitive GBP/USD pair was trading around 1.3190 during Asian hours on Tuesday.
Federal Reserve Chairman Jerome Powell said at the Jackson Hole Symposium on Friday that “it's time to adjust policy.” However, Powell did not specify when the Fed would begin to cut rates or how big the cuts would be. According to the CME FedWatch tool, the market fully expects the Fed to cut rates by at least 25 basis points (bps) at its September meeting.
Additionally, San Francisco Fed President Mary Daly said in an interview with Bloomberg TV on Monday that “it's time” to start cutting interest rates, perhaps starting with a quarter of a percentage point cut. Daly suggested that if inflation continues to decelerate gradually and the labor market maintains a “steady and sustainable” pace of job growth, it would be reasonable to “adjust policy at the usual, customary pace.”
In the UK, the BRC Store Price Index fell 0.3% year-on-year in August, down from a 0.2% increase in July. UK store prices fell year-on-year for the first time since October 2021 this month, driven by summer sales on clothing and home goods.
British Prime Minister Keir Starmer said last week that addressing the UK's many challenges would take time, warning that “things will get worse before they get better” in a speech he presented as an opportunity to speak frankly to the public. As Parliament returns to work after the summer recess on Tuesday, Starmer may stress that “change will not happen overnight”, but his government has pledged to tackle a wide range of issues from overcrowded prisons to long waiting lists for health services.
today british pound price
The table below shows the percentage change of the British Pound (GBP) against the major listed currencies today: The British Pound was strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | Australian Dollar | NZD | Swiss Franc | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.05% | -0.02% | 0.25% | -0.05% | -0.17% | -0.16% | 0.02% | |
| EUR | 0.05% | 0.04% | 0.31% | -0.01% | -0.11% | -0.13% | 0.08% | |
| GBP | 0.02% | -0.04% | 0.29% | -0.02% | -0.15% | -0.15% | 0.04% | |
| JPY | -0.25% | -0.31% | -0.29% | -0.30% | -0.42% | -0.43% | -0.23% | |
| CAD | 0.05% | 0.01% | 0.02% | 0.30% | -0.12% | -0.12% | 0.09% | |
| Australian Dollar | 0.17% | 0.11% | 0.15% | 0.42% | 0.12% | -0.02% | 0.20% | |
| NZD | 0.16% | 0.13% | 0.15% | 0.43% | 0.12% | 0.02% | 0.19% | |
| Swiss Franc | -0.02% | -0.08% | -0.04% | 0.23% | -0.09% | -0.20% | -0.19% |
The heat map displays the percentage change between major currencies. The base currency is selected from the left column and the quote currency is selected from the top row. For example, if you select British Pound from the left column and move it along the horizontal line to US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
