<p><img src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/risto-ristov/user_content/ckimages/orig_colin-watts-8wrrj4xjeyg-unsplash.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="640" height="427" original-src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/risto-ristov/user_content/ckimages/orig_colin-watts-8wrrj4xjeyg-unsplash.jpg"/></p>
<p><em>照片由 Colin Watts 提供，來源於 Unsplash</em></p>
<p>英鎊/美元在週一交易約為 1.3490，當前下跌 0.10%。該貨幣對在近期波動後正在整合，投資者在年末和假期期間保持謹慎，通常由於新年假期流動性較低。</p>
<p>儘管市場對英格蘭銀行（BoE）的貨幣政策立場有預期，但英鎊（GBP）缺乏支撐。市場認為，英國央行將在 2026 年採取逐步放鬆貨幣政策的步伐，因為英國的通脹率仍遠高於 2% 的目標。儘管近期價格壓力有所緩解，但 11 月份年通脹率在 7 月至 9 月達到 3.8% 的高峰後放緩至 3.2%，限制了央行的操作空間。</p>
<p>在最近的政策會議上，英格蘭銀行以五票對四票的接近結果將利率下調 25 個基點至 3.75%，突顯出持續的通脹擔憂。英格蘭銀行行長安德魯·貝利最近重申，利率仍處於下降軌道，同時強調進一步降息的空間有限，因為利率接近中性水平，並將高度依賴即將發佈的經濟數據。在增長方面，英國國內生產總值（GDP）在第三季度增長了 0.1%，符合預期，而央行預計今年最後一個季度的增長几乎持平。</p>
<p>與此同時，美元（USD）略微反彈，投資者繼續期待美聯儲（Fed）在 2026 年更快的放鬆週期。根據 CME FedWatch 工具，市場預計明年至少有 70% 的機會進行 50 個基點的累計降息。這些預期與美聯儲自身的預測形成對比，最新的點陣圖顯示，政策制定者預計到 2026 年底聯邦基金利率將約為 3.4%，這意味着從當前的 3.50%-3.75% 區間降息的次數有限。</p>
<p>關於美國貨幣政策立場更加寬鬆的猜測在美國總統唐納德·特朗普的評論後加劇，他表示希望下一任美聯儲主席支持降低利率。在這種背景下，投資者現在關注週二發佈的聯邦公開市場委員會（FOMC）紀要，這可能為年末前美聯儲內部利率討論提供最後的見解。</p>
<hr/>
<p><em>更多來自此作者的文章：</em></p>
<p>今年下跌 45%，Bloomin’ Brands 是否終於找到了底部？</p>
<p>美元/加元交易接近五個月低點，加拿大央行與美聯儲政策分歧有利於加元</p>
<p>日元在對抗疲軟美元時穩固在周高點附近；似乎有進一步上漲的潛力</p>

<p>GBP/USD 交易價格約為 1.3490，下跌 0.10%，市場在流動性較低的情況下評估美聯儲與英格蘭銀行的利率差異。由於持續的通脹，英格蘭銀行將利率下調至 3.75%，預計將在 2026 年逐步放鬆。英國通脹率為 3.2%，限制了英格蘭銀行的選擇。與此同時，美元略有反彈，市場預計美聯儲將更快進入寬鬆週期，預計明年有超過 70% 的可能性會降息 50 個基點。投資者正等待聯邦公開市場委員會會議紀要，以獲取美聯儲利率討論的見解</p>

<p><img src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/risto-ristov/user_content/ckimages/orig_colin-watts-8wrrj4xjeyg-unsplash.jpg" alt="" original-src="https://talkmarkets.com/contributor/risto-ristov/user_content/ckimages/orig_colin-watts-8wrrj4xjeyg-unsplash.jpg"/></p>
<p><em>Photo by Colin Watts on Unsplash</em></p>
<div class="lb-trans"><p><em>照片由 Colin Watts 提供，來源於 Unsplash</em></p>
</div><p>GBP/USD trades around 1.3490 on Monday, down 0.10% on the day at the time of writing. The pair is consolidating after recent moves, as investors remain cautious ahead of year-end and the holiday period, which typically sees thinner liquidity due to the New Year holiday.</p>
<div class="lb-trans"><p>英鎊/美元在週一交易約為 1.3490，當前下跌 0.10%。該貨幣對在近期波動後正在整合，投資者在年末和假期期間保持謹慎，通常由於新年假期流動性較低。</p>
</div><p>The Pound Sterling (GBP) lacks support despite expectations surrounding the Bank of England’s (BoE) monetary policy stance. Markets believe the UK central bank will adopt a gradual pace of monetary easing in 2026, as inflation in the United Kingdom (UK) remains well above the 2% target. Although price pressures have eased in recent months, annual inflation slowed to 3.2% in November after peaking at 3.8% between July and September, limiting the central bank’s room for maneuver.</p>
<div class="lb-trans"><p>儘管市場對英格蘭銀行（BoE）的貨幣政策立場有預期，但英鎊（GBP）缺乏支撐。市場認為，英國央行將在 2026 年採取逐步放鬆貨幣政策的步伐，因為英國的通脹率仍遠高於 2% 的目標。儘管近期價格壓力有所緩解，但 11 月份年通脹率在 7 月至 9 月達到 3.8% 的高峰後放緩至 3.2%，限制了央行的操作空間。</p>
</div><p>At its latest policy meeting, the Bank of England cut interest rates by 25 basis points to 3.75% following a close five-to-four vote, highlighting persistent inflation concerns. BoE Governor Andrew Bailey recently reiterated that interest rates remain on a downward trajectory, while stressing that the scope for further cuts is limited as rates approach their neutral level and will depend heavily on incoming economic data. On the growth front, UK Gross Domestic Product (GDP) expanded by 0.1% in the third quarter, in line with expectations, while the central bank projects near-flat growth in the final quarter of the year.</p>
<div class="lb-trans"><p>在最近的政策會議上，英格蘭銀行以五票對四票的接近結果將利率下調 25 個基點至 3.75%，突顯出持續的通脹擔憂。英格蘭銀行行長安德魯·貝利最近重申，利率仍處於下降軌道，同時強調進一步降息的空間有限，因為利率接近中性水平，並將高度依賴即將發佈的經濟數據。在增長方面，英國國內生產總值（GDP）在第三季度增長了 0.1%，符合預期，而央行預計今年最後一個季度的增長几乎持平。</p>
</div><p>Meanwhile, the US Dollar (USD) rebounds slightly, while investors continue to expect a faster easing cycle from the Federal Reserve (Fed) in 2026. According to the CME FedWatch tool, markets are pricing in more than a 70% chance of at least 50 basis points of cumulative rate cuts next year. These expectations contrast with the Fed’s own projections, as the latest dot plot shows policymakers anticipating the Federal Funds Rate to be around 3.4% by the end of 2026, implying a limited number of rate cuts from the current 3.50%-3.75% range.</p>
<div class="lb-trans"><p>與此同時，美元（USD）略微反彈，投資者繼續期待美聯儲（Fed）在 2026 年更快的放鬆週期。根據 CME FedWatch 工具，市場預計明年至少有 70% 的機會進行 50 個基點的累計降息。這些預期與美聯儲自身的預測形成對比，最新的點陣圖顯示，政策制定者預計到 2026 年底聯邦基金利率將約為 3.4%，這意味着從當前的 3.50%-3.75% 區間降息的次數有限。</p>
</div><p>Speculation about a more accommodative US monetary policy stance has intensified following comments from US President Donald Trump, who said he would like the next Fed Chair to favor lower interest rates. Against this backdrop, investors are now focused on the release of the Federal Open Market Committee (FOMC) Minutes on Tuesday, which could provide a final insight into the Fed’s internal rate discussions before year-end.</p>
<div class="lb-trans"><p>關於美國貨幣政策立場更加寬鬆的猜測在美國總統唐納德·特朗普的評論後加劇，他表示希望下一任美聯儲主席支持降低利率。在這種背景下，投資者現在關注週二發佈的聯邦公開市場委員會（FOMC）紀要，這可能為年末前美聯儲內部利率討論提供最後的見解。</p>
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</div><p><em>More By This Author:</em></p>
<div class="lb-trans"><p><em>更多來自此作者的文章：</em></p>
</div><p>Down 45% This Year, Is Bloomin’ Brands Finally Finding A Floor?</p>
<div class="lb-trans"><p>今年下跌 45%，Bloomin’ Brands 是否終於找到了底部？</p>
</div><p>USD/CAD Trades Near Five-Month Lows As BoC-Fed Policy Divergence Favours The Loonie</p>
<div class="lb-trans"><p>美元/加元交易接近五個月低點，加拿大央行與美聯儲政策分歧有利於加元</p>
</div><p>Japanese Yen Stands Firm Near Weekly Top Against Weaker USD; Seems Poised To Climb Further</p>
<div class="lb-trans"><p>日元在對抗疲軟美元時穩固在周高點附近；似乎有進一步上漲的潛力</p>
</div>

在流動性稀薄的情況下，市場正在權衡美聯儲與英國央行的利率分歧，英鎊/美元匯率趨於穩定