Pound Sterling Price News and Forecast: GBP/USD ticks higher amid the emergence of some US Dollar selling
GBP/USD Weekly Outlook: US President Trump means fresh challenges for Pound Sterling
The Pound Sterling (GBP) paused its downtrend against the US Dollar (USD), fuelling a tepid GBP/USD recovery from 14-month lows of 1.2100.
This week, it was all about the inflation data from the United Kingdom (UK) and the United States (US). However, the US inflation data-led renewed dovish expectations surrounding the Federal Reserve (Fed) fuelled a sustained correction in the USD and the US Treasury bond yields from over one-year highs. The broad US Dollar softness allowed the GBP/USD pair to sigh relief after hitting a fresh 14-month low at 1.2100 to begin the week. Read more...
GBP/USD ticks higher on softer USD; lacks bullish conviction and remains below 1.2200
The GBP/USD pair kicks off the new week on a slightly positive note and reverses a part of Friday's decline, though the uptick lacks follow-through or bullish conviction. Spot prices currently trade around the 1.2180 region, up less than 0.10% for the day, and remain close to the lowest level since November 2023 touched last week.
The US Dollar (USD) struggles to capitalize on Friday's positive move amid expectations that the Federal Reserve (Fed) may not exclude the possibility of rate cuts by the end of this year. Apart from this, a generally positive risk tone undermines demand for the safe-haven Greenback, which is seen lending some support to the GBP/USD pair. That said, a combination of factors could act as a headwind for spot prices, warranting some caution for bullish traders. Read more...
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