GBP/USD snaps three days of consecutive gains slumps on risk aversion spurred by the clash between Israel and Hamas after the latter struck an attack during the weekend. Consequently, risk-perceived currencies depreciated to the benefit of safe-haven peers, including the Greenback (USD). The GBP/USD is trading at around 1.2199, down 0.30%, after hitting a daily high of 1.2224. Read More…
The Pound Sterling (GBP) corrected on Monday following a short-lived pullback as the Israel-Hamas conflict that began over the weekend strengthened the risk-aversion theme. The GBP/USD pair dropped sharply as the Federal Reserve (Fed) is expected to keep one more interest rate hike in consideration, while the Bank of England (BoE) may keep interest rates unchanged to phase out fears of a recession in the United Kingdom’s economy. Read More…
In the view of Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group, GBP/USD is still seen navigating the 1.2030-1.2270 rang for the time being. Read More…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-retreats-and-snap-three-days-of-gains-202310091745