Pound Sterling weakens against US Dollar ahead of key US data
The Pound Sterling (GBP) drops to near 1.3190 against the US Dollar (USD) during the European trading session on Tuesday. The GBP/USD pair falls as the US Dollar extends Monday’s recovery move despite weak United States (US) ISM Manufacturing Purchasing Managers’ Index (PMI) data for November. Read more…
GBP strengthens on relief rally after UK Autumn Statement – MUFG
The Pound Sterling (GBP) rose this week following relief over the UK Autumn Statement and broad USD weakness, pushing cable above 1.3275 and further away from early November lows. While the UK Budget eased gilt market concerns and raised fiscal headroom, front-loaded spending and back-loaded taxes mean the BoE may still pursue rate cuts amid softer inflation and labor market weakness, MUFG’s FX analyst Lee Hardman reports. Read more…
GBP/USD: Starmer backs Reeves amid budget controversy – Commerzbank
Prime Minister Keir Starmer defended Chancellor Rachel Reeves and the Office for Budget Responsibility after a premature report release, stressing fiscal stability despite political criticism, Commerzbank’s FX analyst Antje Praefcke notes. Read more…