GBP/USD sinks below 1.3500 as ‘King Dollar’ regains strength post-Fed
The British Pound (GBP) is under heavy pressure from the ‘King Dollar’ on Friday, down 0.52% even though the docket in the US is absent, with just Federal Reserve (Fed) officials crossing the newswires. UK data, although positive, failed to underpin Sterling in Retail Sales. GBP/USD is trading at 1.3482.
Market mood remains mixed amid a quad witching options expiring on Friday, which could trigger volatility in US equity markets. The US Dollar has recovered after falling to three-year lows in the aftermath of the Fed’s monetary policy decision on Wednesday. Read more…
Pound Sterling declines on rising UK fiscal worries, Fed Daly’s speech eyed
The Pound Sterling (GBP) tumbles against its major peers on Friday as long-dated United Kingdom (UK) gilt yields gain sharply amid soaring public sector borrowings in August. 30-year UK gilt yields jump over 1% to near 5.50%.
The data showed that Public sector net borrowing hit £18 billion, the highest for the month in five years. Economists expected government borrowing to come in significantly lower at £12.8 billion. Read more…
GBP/USD has moved into a range-trading phase – UOB Group
Pound Sterling (GBP) has moved into a range-trading phase; softening underlying tone suggests it is likely to test the lower end of the 1.3470/1.3650 range first, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. Read more…