The Pound Hits a Low Point: Overview for September 22, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSD_6-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="GBP/USD analysis today" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/gbpusd/" data-internallinksmanager029f6b8e52c="36" title="GBP/USD">GBP/USD</a> pair remains on a downward <a title="&lt;div class=&quot;wpg-tooltip-content&quot;&gt;&lt;p&gt;A trend is a direction in which the market or the price of an instrument is moving. Trends can be upward, downward or sideways and are common to all types of markets.&lt;/p&gt;&lt;/div&gt;" href="https://blog.roboforex.com/glossary-terms/trend/">trend</a> following the Bank of England's recent actions.</p>

<p>Currently, the British pound sterling paired with the US dollar has reached its lowest point in six months, with the current exchange rate standing at 1.2276.</p>

<p>In a surprising move, the Bank of England decided to maintain the <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> at 5.25% per annum during its meeting on Thursday. This was contrary to the expectations of both investors and economists, who had anticipated a rate hike to 5.50% per annum.</p>

<p>The British regulatory body justified this unexpected decision by citing emerging <a href="https://blog.roboforex.com/blog/2019/11/19/top-10-forex-indicators-that-every-trader-needs/" data-internallinksmanager029f6b8e52c="99" title="Indicators">indicators</a> of a slowdown in the UK economy and a noticeable deceleration in <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a>.</p>

<p>In their commentary, the regulator noted that while wage growth is still visible, there are signs of a weakening labor market.</p>

<p>This development has driven the pound sterling to its lowest point in six months when paired with the US dollar.</p>

<p>The Bank of England's decision to keep the rate unchanged is at odds with the position of other major central banks, leaving the pound in a highly precarious position.</p>

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