Pound US dollar exchange rate steady as US inflation fails to ease fears for ...

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Pound and US dollar notesThe pound US dollar exchange rate held steady today (Image: Steve Taylor/SOPA Images/LightRocket via Getty Images)

However, despite the positive data, the US dollar (USD) failed to rise against the pound (GBP) with concerns dogging markets that the Federal Reserve might make an interest rate cut this week. Ryan Sweet, Senior Economist at Moody’s Analytics, said the US central bank would likely cut interest rates despite the pickup in inflation, citing the “downside risks to the outlook from trade” as too threatening and eclipsing hopes for a near term economic recovery. Today also saw August’s US continuing jobless claims ease to a better-than-expected 1.670 million.

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Nevertheless, with slowing job growth this leaves some investors jittery on an imminent decrease in consumer spending, currently one of the main drivers of the US economy. 

Meanwhile in geopolitical developments, US President Donald showed an act of “goodwill” by postponing US

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