Pound Sterling Price News and Forecast: GBP/USD drops on risk-aversion, sellers eye 1.2600

FXStreet Team FXStreet

GBP/USD Price Forecast: Drops on risk-aversion, sellers eye 1.2600

The Pound Sterling tumbled against the US Dollar early during the North American session as traders digested the escalation of the Russia-Ukraine conflict, the result of the US Presidential Elections, and hot UK inflation data. The GBP/USD trades at 1.2624, down 0.21%. Read More...

Pound Sterling slumps against US Dollar as Fed dovish bets ease

The Pound Sterling (GBP) weakens against most of its peers on Thursday even though traders doubt whether the Bank of England (BoE) will cut interest rates again in the December meeting. Market speculation for BoE rate cuts next month diminished after the release of the United Kingdom (UK) Consumer Price Index (CPI) data for October on Wednesday showed that price pressures accelerated faster than expected. Read More...

GBP/USD trades above 1.2650, upside potential seems limited due to cautious Fed

GBP/USD edges higher to near 1.2650 during the Asian trading hours on Thursday. This upside of the pair could be attributed to the softer US Dollar (USD). The US Dollar Index (DXY), which measures the value of the USD against its six major peers, holds ground near 106.50 at the time of writing. Read More...

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