GBP/USD cycled around 1.2680 on Tuesday as markets look for a fresh push from the Federal Reserve (Fed) with investors steadily pushing away from elevated rate cut bets. US Gross Domestic Product (GDP) and Personal Consumption Expenditure Price Index (PCE) inflation numbers are due this week. Read More…
The Pound Sterling (GBP) is stuck in a narrow range in Tuesday’s session as investors seek fresh economic triggers that could provide insights into the timing of rate cuts by the Bank of England (BoE). The GBP/USD pair consolidates as the upside seems restricted as rate cuts by the BoE are inevitable, while more correction in the US Dollar has capped the downside. Read More…
The GBP/USD pair remains capped under the 1.2700 barrier during the early European session on Tuesday. A testimony to the UK Treasury committee by Bank of England (BoE) Governor Andrew Bailey and other policymakers last week sparked speculation of a delay in rate cuts, which boost the Pound Sterling (GBP) and create a tailwind for the GBP/USD pair. The pair currently trades around 1.2683, up 0.01% on the day. Read More…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-middles-just-below-12700-ceiling-markets-await-us-gdp-202402272223