Pound Sterling Price News and Forecast: GBP/USD strengthens on relief rally after UK autumn statement

FXStreet Team FXStreet

Pound Sterling weakens against US Dollar ahead of key US data

The Pound Sterling (GBP) drops to near 1.3190 against the US Dollar (USD) during the European trading session on Tuesday. The GBP/USD pair falls as the US Dollar extends Monday's recovery move despite weak United States (US) ISM Manufacturing Purchasing Managers’ Index (PMI) data for November. Read more...

GBP strengthens on relief rally after UK Autumn Statement – MUFG

The Pound Sterling (GBP) rose this week following relief over the UK Autumn Statement and broad USD weakness, pushing cable above 1.3275 and further away from early November lows. While the UK Budget eased gilt market concerns and raised fiscal headroom, front-loaded spending and back-loaded taxes mean the BoE may still pursue rate cuts amid softer inflation and labor market weakness, MUFG's FX analyst Lee Hardman reports. Read more...

GBP/USD: Starmer backs Reeves amid budget controversy – Commerzbank

Prime Minister Keir Starmer defended Chancellor Rachel Reeves and the Office for Budget Responsibility after a premature report release, stressing fiscal stability despite political criticism, Commerzbank's FX analyst Antje Praefcke notes. Read more...

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EUR/USD pops to yearly highs near 1.1770

EUR/USD rapidly reverses course and hits fresh YTD tops near 1.1780 at the end of the week. The pair’s U-turn comes on the back of the intense sell-off in the Greenback amid the generalised risk-on context.

GBP/USD climbs to four-month tops near 1.3600

GBP/USD is building on its solid weekly advance and is pushing toward the 1.3600 hurdle on Friday, or new four-month peaks. Cable’s strong move higher comes as the Greenback intensifies its decline, while auspicious results on the UK calendar also collaborate with the uptrend.

Gold picks up pace, approaches $5,000

Gold prices keep their uptrend well in place and gear up for an imminent hit to the key $5,000 mark per troy ounce on Friday. The yellow metal’s sharp advance gathers pace amid the increasing weakness in the US Dollar and mixed US Treasury yields across the curve.