Anna 
The Pound Sterling (GBP) exhibits bullish momentum in the European session on Wednesday, benefiting from an increased appetite for risk-perceived assets. The GBP/USD pair stages a robust rebound even as the likelihood of early rate cuts by the Bank of England (BoE) intensifies.
The UK’s construction and service sectors experience a resurgence, contributing to the Pound’s strength. The prospect of BoE rate cuts gains traction amidst easing price pressures, boosting the confidence of businesses in the economic outlook.
Despite the Federal Reserve (Fed) signaling a cautious approach to rate cuts and expressing confidence in the resilience of the United States economy, the US Dollar faces downward pressure. Fed policymakers remain steadfast in their stance, avoiding hasty decisions on rate cuts amid uncertainties in inflation dynamics, attributed to robust conditions in the labor market and sustained retail demand.
