Pound Remains Steady Amid BoE Policy Anticipation

The British pound stayed near a one-month low against the dollar as markets await key wage growth and inflation data. Speculation on the Bank of England's interest rate path and upcoming economic data are central to the pound's current standing.

The British pound maintained its position near a one-month low against the dollar as investors awaited critical wage growth and inflation data this week. These figures may significantly influence the Bank of England's decisions at its policy review meeting next month.

Currently, Sterling is trading at $1.30660, close to a one-month low, with minimal change against the euro. The currency's recent decline correlates with reduced market expectations for a sharp interest rate cut by the U.S. Federal Reserve.

Prime Minister Keir Starmer's business conference might not majorly sway the pound's trajectory, as focus remains on British economic data and the upcoming Labour Party budget, potentially affecting market sentiment with anticipated tax changes.

(With inputs from agencies.)