Pound Sterling Price News and Forecast: GBP/USD hits a two-month low as UK fiscal concerns weigh
|GBP/USD tumbles to two-month low amid UK fiscal worries and US Dollar strength
GBP/USD retreats toward 1.3280 during Friday’s US session, marking a fresh two-month low. The US Dollar (USD) remains firm, supported by increased safe-haven demand amid political uncertainty in Japan and France. The US Dollar Index (DXY) holds near Thursday’s two-month high of 99.56, limiting any rebound of the Cable.
Despite rising expectations for further interest rate cuts by the Federal Reserve (Fed) before year-end, the Greenback remains in demand. According to the CME FedWatch tool, markets assign over an 80% chance of a 50-basis-point rate cut by December. Read more...
Pound Sterling struggles to stabilize against US Dollar despite dovish Fed remarks
The Pound Sterling (GBP) strives to gain ground against the US Dollar (USD) during Friday's European trading session after posting a fresh two-month low around 1.3280 earlier in the day. The outlook of the GBP/USD pair remains vulnerable as the US Dollar trades firmly, with an increase in its safe-haven demand following political developments in Japan and France.
At the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, clings to gains near a fresh two-month high of 99.56 posted on Thursday. Read more...
GBP weak and underperforming most G10 currencies – Scotiabank
The Pound Sterling (GBP) is weak, down 0.2% against the US Dollar (USD) and underperforming all of the G10 currencies with the exception of NOK, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
"There have been no major domestic data releases and UK-US yield spreads remain steady. Sentiment appears to be dominating as we note the renewed decline in 3M risk reversals, building a greater premium for protection against GBP weakness." Read more...
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