Pound Sterling Price News and Forecast: GBP/USD may recover as the Pound Sterling strengthens
|GBP/USD holds losses near 1.3450, downside seems limited amid BoE cautious stance
GBP/USD loses ground after two days of gains, trading around 1.3470 during the Asian hours on Tuesday. However, the pair may regain its ground as the Pound Sterling (GBP) could gain ground, driven by the market caution regarding the Bank of England’s (BoE) policy stance amid sticky inflationary pressures and cooling labor market conditions.
The BoE projected at the August policy meeting that inflation would peak around 4% in September. However, Deputy Governor Clare Lombardelli and MPC member Catherine Mann cautioned last week that the recent inflation shocks should not be viewed as temporary. Read more...
GBP/USD flat as US shutdown drags into sixth day
The Pound Sterling (GBP) remains flat during the North American session on Monday as the US government shutdown reaches its sixth day, which has kept financial markets trading blind due to the lack of economic data. GBP/USD trades at around 1.3474, virtually unchanged.
The US Senate is set to vote late Monday on a House bill that would temporarily fund the government, according to Bloomberg. The White House continued to exert pressure on Democrats, giving them another chance to pass the spending bill before initiating mass firings of federal workers. The US docket will feature Federal Reserve (Fed) speakers throughout the week, along with the Federal Open Market Committee (FOMC) last meeting minutes. Read more...
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