GBP/USD still holding its ground

Yesterday the modest rebound in the dollar pushed the EUR/USD and the GBP/USD lower. That was seemingly led once again by a rebound in the USD/JPY. The Pound remained pretty resilient for most of the session though, thanks to a fall back in the EUR/GBP to just below 0.8450. The GBP/USD did fall back and later closed in the US at 1.3188. It has nudged a little higher so far today though and has lifted back above that 1.32 handle. The way things look right now, the Pound is still being buoyed by the prospect of the BOE not likely to reduce interest rates again next next month. That could help to push the currency towards the noted 2022 high, at 1.3298 in due course. The overall weaker dollar dynamic is also a major factor at play here. So, if the Fed does as entirely expected and lowers rates on September 18 and the BOE holds fast the day after on September 19 that would support the Pound. Of course so much of that expectation will most likely be prices in by then, so we shall see. The GBP/USD has traded a range so far today covered by 1.3180 to 1.3205. It is currently trading at 1.3203