Pound Sterling Price News and Forecast: GBP/USD hits seven-month low as UK fiscal concerns deepen

FXStreet Team FXStreet

GBP/USD hits seven-month low as UK fiscal concerns deepen ahead of BoE decision

The British Pound (GBP) remains under pressure against the US Dollar (USD) on Tuesday, with GBP/USD falling to its lowest level since April 11 amid broad-based Greenback strength and growing fiscal concerns in the United Kingdom (UK). At the time of writing, the pair is trading around 1.3047, down nearly 0.7% on the day. Read More...

Pound Sterling underperforms as UK Reeves warns of higher UK borrowing costs

The Pound Sterling (GBP) underperforms its major currency peers, except antipodeans, on Tuesday. The GBP faces selling pressure as investors turn cautious on expectations that the United Kingdom (UK) Chancellor of the Exchequer, Rachel Reeves, will raise taxes in the upcoming Autumn Budget later this month to plug a £22bn shortfall in the government's finances. Read More...

GBP/USD takes a break from sustained losses near 1.3150

GBP/USD has managed to keep pumping the brakes at the outset of another trading week, finding enough friction to hold off on further declines as price action toys with the 1.3150 level. A technical rebound has yet to materialize, and Cable is likely to continue some rough chop in the interim as Pound Sterling (GBP) traders await the Bank of England’s (BoE) latest interest rate decision. Read More...

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