Pound Sterling Price News and Forecast: GBP/USD declines even though BoE dovish bets ease

FXStreet Team FXStreet

Pound Sterling declines even though BoE dovish bets ease

The Pound Sterling (GBP) slides to near 1.2630 against the US Dollar (USD) in Thursday’s London session. The GBP/USD pair declines as the US Dollar Index’s (DXY) ticks up, with investors looking for fresh cues about the Federal Reserve (Fed) interest rate path.

Recently, traders pared Fed rate cut bets for December as investors expect President-elect Donald Trump’s policies on trade and taxes will be inflationary and growth-oriented, a scenario that would force the Fed to follow a more gradual policy-easing approach. Read more...

GBP/USD Forecast: Pound Sterling turns fragile as key resistance holds

After failing to stabilize above 1.2700 on Wednesday, GBP/USD came under renewed bearish pressure and closed marginally lower on the day. The pair stays on the back foot in the European morning on Thursday and trades slightly below 1.2650.

In the early trading hours of the European session, GBP/USD edged higher after the data from the UK showed that inflation in October rose at a stronger pace than expected. The risk-averse market environment, however, supported the US Dollar and forced the pair to turn south in the second half of the day. Read more...

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