GBP/USD registers minimal losses of 0.12% after hitting a daily high of 1.2163 on risk appetite, but news headlines showing an escalation of the Middle East conflict weighed on the major. Therefore, the pair reversed its course trades at 1.2112, as sellers eye a test of 1.2100. Read More…
The Pound Sterling (GBP) recovers sharply against the US Dollar as market sentiment improves after a steady US core Personal Consumption Expenditure (PCE) price index report for September. The near-term outlook of the GBP/USD pair remained weak as the United Kingdom economy is facing the wrath of higher interest rates by the Bank of England (BoE) amid stubborn consumer inflation. Read More…
Further downside in GBP/USD could revisit the 1.2040 zone in the short-term horizon, suggest Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Read More…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-dips-amidst-escalating-middle-east-conflict-202310271948