Pound Sterling Price News and Forecast: GBP/USD is recording decent gains after nosediving to 1985
|GBP/USD Price Analysis: Rebounds at 37-year lows, reclaims the 1.1500 figure
The GBP/USD refreshed a 37-year low but bounced off and reclaimed the 1.1500 figure after meandering around the 1.1400 round figure during the day. The GBP/USD recovered some ground and settled at current exchange rates, trading at 1.1531, above its opening price by 0.18%, at the time of writing.
Chart of the day: GBP/USD
Cable edged higher in Asian / European trading on Tuesday, boosted by cautious optimism that new UK Prime Minister Liz Truss will manage handle deepening crisis, though market will look for a much more evidence about the action the new government will take. The key problem that Truss face will be to cap energy costs, as soaring prices strongly hit UK households, by sharply rising cost of living.
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