GBP/USD PAIR REGAINS GROUND AHEAD OF SARAH BREEDEN'S SPEECH
GBP/USD PAIR REGAINS GROUND AHEAD OF SARAH BREEDEN'S SPEECH
The GBP/USD pair has recovered its daily losses, trading around 1.2850 during Asian trading hours on Thursday.
Earlier, the British Pound (GBP) faced pressure following the release of the RICS Housing Price Balance data, which showed a 2% increase in March, below expectations.
Bank of England Deputy Governor Sarah Breeden is scheduled to speak at a panel discussion on financial regulation in Washington on Wednesday, which may provide insights into the BoE's monetary policy outlook.
The GBP's performance is influenced by market expectations of potential interest rate cuts by the Bank of England, as declining inflation and weak labor market data fuel speculation.
The RICS House Price Balance, a measure of surveyors reporting price increases versus decreases, fell to +11 in February, lower than the anticipated +20, indicating a slowdown in housing market activity.
Despite the overall slowdown, regions such as Northern Ireland, Scotland, and parts of England continue to experience house price growth.
