- Pound Sterling finds an intermediate support, but the downside seems favored amid global uncertainty.
- BoE Dhingra warned that further tightening could hurt the UK economy.
- Investors shift focus to the July Employment data, which will be released on Tuesday.
The Pound Sterling (GBP) discovered intermediate support as investors started digesting the potential risks of global economic turmoil due to restrictive monetary policy by Western central bankers. The GBP/USD pair finds an intermediate cushion, but the broader bias remains bearish as investors expect that policy divergence between the Federal Reserve (Fed) and the Bank of England (BoE) may not vanish this month.
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