GBP/USD DECLINES BELOW 1.3450 AHEAD OF BOE'S RAMSDEN SPEECH

GBP/USD DECLINES BELOW 1.3450 AHEAD OF BOE'S RAMSDEN SPEECH

The British Pound (GBP) weakened against the U.S. Dollar (USD) on Tuesday, April 29, 2025, trading below 1.3450.

This decline was attributed to a modest rebound in the USD and anticipation surrounding a forthcoming speech by Bank of England (BoE) Deputy Governor Dave Ramsden.​

The GBP/USD pair experienced downward pressure during the early Asian trading hours, attracting sellers near 1.3425.

This movement reflects a cautious market sentiment ahead of Ramsden's speech.

The U.S. Dollar saw a modest rebound, contributing to the downward pressure on the GBP/USD pair.

This rebound was influenced by global economic factors and market positioning.

Investors are awaiting insights from BoE Deputy Governor Dave Ramsden, who is scheduled to speak on monetary policy.

His recent comments have suggested that UK inflation may undershoot forecasts, potentially requiring faster interest rate cuts.

In November 2024, Ramsden indicated that inflation risks are tilted to the downside, which could necessitate a more aggressive approach to rate cuts.

Ramsden's previous statements have influenced market expectations, with some analysts forecasting a more dovish stance from the BoE.

Goldman Sachs, for instance, revised its GBP/USD forecasts lower, citing bearish sentiment influenced by Ramsden's comments.