The GBP/USD climbed to an intraday high of 1.2192 on Thursday after softer comments from Federal Reserve (Fed) Chairman Jerome Powell landed heavy on the US Dollar (USD), taking the broad Dollar Index (DXY) down and giving the Pound Sterling (GBP) a much-needed boost, extending a rebound from the day’s early lows near 1.2090. Read More…
The Pound Sterling (GBP) finds a cushion but the broader outlook remains vulnerable due to persistent inflation fears. The GBP/USD pair struggles for traction as the UK Consumer Price Index (CPI) report for September released on Wednesday showed inflation remains stubborn due to higher Oil prices, services inflation, and strong wage growth. Read More…
GBP/USD remains under selling pressure below the mid-1.2100s during the early European session on Thursday. A rise in the US Treasury bond yields and the escalating geopolitical tension between Israel and Hamas boost the US Dollar (USD) demand and exert some selling pressure on the GBP/USD pair. The major currently trades near 1.2123, losing 0.14% on the day. Read More…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-sees-12190-on-post-fed-reaction-202310191803