Pound Sterling remains downbeat as focus shifts to Fed-BoE policy

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• Pound Sterling trades directionless ahead of the monetary policy decision by both the Fed and the BoE.
• The BoE is expected to keep interest rates steady as slowdown fears mount.
• Stubborn UK inflation puts at risk Prime Minister Rishi Sunak’s pledge to halve inflation to 5.4% by year-end.

The Pound Sterling (GBP) registered lackluster moves on Wednesday as investors await monetary policy decisions from both the US Federal Reserve (Fed) and the Bank of England (BoE). The GBP/USD pair remains on tenterhooks as investors expect that the BoE will keep interest rates unchanged.