Pound Sterling Price News and Forecast: GBP/USD weakens as US Dollar firms on Senate breakthrough
|GBP/USD weakens as US Dollar firms on Senate breakthrough, BoE meeting ahead
GBP/USD trades around 1.3760 on Friday at the time of writing, retreating 0.30% on the day as the US Dollar (USD) regains some traction. The Greenback finds support after reports that the US Senate has advanced a spending agreement aimed at avoiding a federal government shutdown, easing recent political uncertainty.
The US Dollar strengthens after US President Donald Trump and Senate Democrats reached a compromise that would allow funding legislation to move forward. This development reduces near-term fiscal risks and provides modest relief to the US Dollar, which had been under pressure in recent sessions. Read more...
GBP/USD stays firm above 1.3800, with 1.3870 long-term highs in sight
The Pound has taken back most of the ground lost on Wednesday, and is trading in the area of 1.3830 on Thursday’s early London session, after bouncing at 1.3750 lows, with the four-year highs of 1.3870 at a relatively short distance.
The US Dollar bounced up on Wednesday, following a hawkishly tilted Federal Reserve (Fed) monetary policy decision and supporting comments by US Treasury Secretary Scott Bessent, but failed to find follow-through. The erratic US trade policy and attacks on the Federal Reserve’s independence continue undermining confidence in the Greenback. Read more...
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