08 November, 2018
GBP/USD remained stable on Thursday, trading above 1.3130, but below its multi- week high of 1.31730 reached yesterday. The dollar traded in a narrow range on Thursday as markets settled after U.S. midterm election results came in as expected, leaving investors free to focus on a Federal Reserve’s policy decision later in the global day. The central bank’s Federal Open Market Committee (FOMC) is expected on Thursday to maintain the hawkish language seen in recent policy statements, while keeping interest rates unchanged this time. The Fed has raised rates three times this year as the U.S. economy boomed and inflation started to pick up, and it has signalled a rate rise in December. The British pound, on the other hand, remained strong as investors continued to bet on an orderly Brexit and all that after latest developments and comments that a deal is close. Later this afternoon US Initial Jobless Claims will be revealed, while tonight (19:00 GMT) US Federal Reserve will announce their latest monetary policy decision.