British Pound edges higher vs weak USD as focus remains glued to this week's FOMC meeting

The British pound edged higher against a softer US dollar, with the move occurring as currency markets concentrated on this week's Federal Open Market Committee meeting. The dollar's weakness ahead of the decision points to traders pricing in a degree of policy uncertainty or a possibility of a less hawkish Federal Reserve stance, which tends to compress US yield advantages and weigh on the greenback through the rate differential channel. Sterling is the primary beneficiary in this pairing, while the dollar index and USD-denominated pairs such as EUR/USD and USD/JPY are most sensitive to shifts in Fed expectations. Traders will be watching the FOMC statement, the subsequent press conference, and the updated dot plot for signals on the timing and pace of rate cuts, since any deviation from market-implied pricing could trigger sharp repricing across the dollar complex.

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