GBP/USD lost traction during the North American session, falling below the 1.3100 figure due to an adverse market mood spurred by a weaker-than-expected economic recovery in China, which triggered a flight to safe-haven assets. The GBP/USD is trading at 1.3080, down 0.08%. Read More…
The Pound Sterling (GBP) has slipped sharply to near 1.3060 as investors are shifting their focus toward the United Kingdom Consumer Price Index (CPI) data, which will be released on Wednesday at 06:00 GMT. The GBP/USD pair has dropped as investors are hoping that core inflation will remain elevated and the Bank of England (BoE) would be forced to continue its aggressive policy-tightening spell so that inflation could return to desired levels. This would in turn dampen the economic prospects of Britain economy. Read More…
Extra gains in GBP/USD are likely while above the 1.3000 hurdle, according to Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Read More…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-tumbles-below-13100-202307171850