GBP/USD Likely to trade in a range between 1.3290 and 1.3365

Pound Sterling advances against US Dollar amid firm Fed dovish bets

The Pound Sterling (GBP) extends Tuesday’s recovery move to near 1.3370 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair recovers strongly as the US Dollar extends its correction, following comments from Federal Open Market Committee (FOMC) members, including Federal Reserve (Fed) Chair Jerome Powell, regarding labor market concerns. Read more…

GBP/USD: Likely to trade in a range between 1.3290 and 1.3365 – UOB Group

Pound Sterling (GBP) is likely to trade in a range between 1.3290 and 1.3365. In the longer run, downward momentum has slowed somewhat, but there is still a chance for GBP to decline to 1.3200, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. Read more…

GBP: UK data provide mixed signals with BoE outlook finely balanced – MUFG

The Pound Sterling (GBP) underperformance yesterday was contained mostly to against the core G10 currencies with the risk-off sentiment resulting in the high-beta G10 currencies like NOK and AUD performing worse. But EUR/GBP did have its largest one-day gain since 16th September as investors started to position for the potential for the BoE to ease sooner than expected. The 2-year Gilt yield dropped 5bps yesterday with the prospects of a rate cut before the end of the year increasing from a 20% probability to a 40% probability over the last three trading days, MUFG’s FX analyst Derek Halpenny reports.  Read more…