Pound Sterling Price News and Forecast: GBP/USD declines as traders pare Fed large rate cut bets

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Pound Sterling declines as traders pare Fed large rate cut bets

The Pound Sterling (GBP) extends its two-day losing spree and posts a fresh intraday low below 1.3150 against the US Dollar (USD) in Friday’s North American session. The GBP/USD pair fails to gain ground as the US Dollar rises sharply after the release of the United States (US) Personal Consumption Expenditure Price Index (PCE) data for July, which came in slower than expected. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, jumps above 101.50. Read More...

GBP/USD Price Forecast: Extends losing streak, slides below 1.3150

The GBP/USD extends its losing streak to three days yet has bounced off daily/weekly lows of 1.3129 and exchanges hands at 1.3149, down a modest 0.14%. Data from the United States (US) spurred a leg-down in the currency pair as the Fed’s preferred gauge for inflation came as expected, hinting that the US Federal Reserve could cut rates at the upcoming September meeting. Read More...

GBP/USD falls to near 1.3150 ahead of US PCE data

GBP/USD loses ground for the third successive session, trading around 1.3160 during the Asian hours on Friday. This downside could be attributed to the improved US Dollar (USD) following stronger-than-expected economic data released on Thursday. Investors await July’s US Personal Consumption Expenditure (PCE) Price Index scheduled to be released later in the North American Session. Read More...

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