Anna 
In the current London trading session, the Pound Sterling (GBP) is maintaining a narrow range around 1.2800 against the US Dollar (GBP/USD) as investors eagerly await insights into the monetary policy decisions of the Bank of England (BoE).
The GBP/USD pair is displaying a sideways trend as market participants seek clarity regarding potential adjustments in interest rates by both the BoE and the Federal Reserve (Fed).
Uncertainty shrouds the short-term outlook for the Cable, exacerbated by persistent concerns stemming from the recent United States inflation data for February. The data’s revelation has heightened apprehensions that the Fed may opt to postpone its intended interest rate reductions. Current market sentiment leans towards the expectation that the Fed might initiate rate cuts come June.
Concurrently, the US Dollar Index (DXY) has witnessed a resurgence, climbing to 102.90 in anticipation of the forthcoming release of the US Producer Price Index (PPI) and Retail Sales data for February. These key economic indicators, slated for publication at 12:30 GMT, are poised to provide valuable insights into the Fed’s prospective timeline for implementing interest rate adjustments throughout the year.
