The Pound Sterling faces pressure as geopolitical tensions improve the appeal for safe-haven assets.
UK’s employment and inflation data will influence speculation over BoE rate cuts.
The UK economy is on track to come out of a technical recession.
The Pound Sterling (GBP) remains on the backfoot against the US Dollar in Monday’s early New York session. The near-term demand of the GBP/USD pair remains downbeat due to deepening Middle East tensions and speculation that the Bank of England (BoE) will start reducing interest rates sooner than the Federal Reserve (Fed).

Currently, financial markets anticipate that the BoE will begin lowering borrowing costs from August while the Fed is expected to follow the same from the September meeting.

USD/CHF trades sideways near 0.8800 as the focus shifts to US economic data.
The Swiss economy is expected to have growth at a moderate pace of 0.1% in the last quarter of 2023.
Fed policymakers support holding interest rates unchanged in the range of 5.25%-5.50%.
The USD/CHF is stuck in a tight range near the round-level resistance of 0.8800 since Friday’s trading session. The Swiss Franc asset struggles to find a direction as investors await the United States core Personal Consumption Expenditure price index (PCE) and Swiss Q4 Gross Domestic Product (GDP) data for further guidance.
The US Dollar edges down in Tuesday’s trading session. Further action in the US Dollar will be guided by the US core PCE price index data, which will influence market expectations

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Pound Sterling struggles for a direction as investors shift focus to the Q3 GDP data.
A poor GDP report would elevate dovish expectations from various BoE policymakers.
Rising energy prices have squeezed the UK’s consumer spending.
The Pound Sterling (GBP) is stuck in a tight range as investors seem unwilling to build fresh positions ahead of the release of the UK Q3 Gross Domestic Product (GDP) data, published on Friday at 07:00 GMT. The GBP/USD pair remains on tenterhooks as the Q3 GDP report will shape December’s monetary policy outlook of the Bank of England (BoE).

A decline in consumer spending, poor Services PMI, postponed demand for