POUND CAUTIOUSLY HOVERS ABOVE $1.26 MARK AHEAD OF BOE; GBPINR FUTURES SPIKE WELL ABOVE 105

Published on Dec 14, 2023 12:38

UK Pound regains above $1.26 mark on Thursday on the back of dollar weakness after a dovish view from Fed�s FOMC later yesterday. Fed announced its widely expected decision to leave interest rates unchanged while also indicating a possible rate cut next year through its dot chart. Meanwhile, focus for the pound now shifts to BoE decision due later today. GBPUSD is quoting at a one-week high of $1.2641 but is off intraday highs as caution prevails ahead of BoE decision even as dollar index lingers at 102.23, down 0.24% on the day. The decision comes after weaker than expected UK growth figures revealed yesterday. On the NSE, GBPINR futures surged on Thursday to quote at 105.36, up 0.85% on the day.