Pound Sterling holds onto Fed-related gains against US Dollar
The Pound Sterling (GBP) trades close to a fresh seven-week high around 1.3400 against the US Dollar (USD) on Thursday. The GBP/USD pair trades firmly as the US Dollar struggles to gain ground following the Federal Reserve’s (Fed) rate cut on Wednesday.
The US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades vulnerably near a seven-week low of 98.54 posted earlier in the day. Read more…
GBP/USD approaches local high, bolstered by BoE stance
The GBP/USD pair advanced to 1.3367 on Thursday, stabilising near its highest level since 22 October. Sterling is drawing support from a confluence of factors: a broadly weaker US dollar and a market reassessment that has scaled back expectations for additional Bank of England (BoE) monetary easing in 2026.
This follows yesterday’s Federal Reserve meeting, where the US central bank delivered a widely anticipated 25-basis-point rate cut. Crucially, the Fed signalled a potential pause in its easing cycle as early as January, emphasising the need for more economic data before determining the next steps. Read more…
