Sterling steady after UK GDP data; Fed official up next

Sterling held roughly steady after the latest UK gross domestic product release, with the currency showing little reaction as traders weighed the data against expectations for Bank of England policy. The muted move suggests the print landed close to consensus, leaving the rate-differential outlook largely intact rather than shifting the relative path of UK and US interest rates. The pound is most sensitive to changes in expected Bank of England easing, so GBP crosses against the dollar are the most directly exposed, while the dollar's own direction hinges on how markets reprice Federal Reserve policy ahead of the scheduled remarks. The next catalyst is the upcoming speech by a Federal Reserve official, where any signal on the timing of rate cuts would likely move Treasury yields and the dollar more sharply than the UK data did.

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