Pound Sterling refreshes four-month low ahead of Powell-Bailey’s speeches
The Pound Sterling (GBP) refreshes over a four-month low below the round level of 1.2700 against the US Dollar (USD) in Thursday’s London session. The GBP/USD pair extends its downside for the fifth consecutive trading day as the US Dollar (USD) continues to gain on optimism over the United States (US) economic outlook, fuelled by headlines that President-elected Donald Trump and the Republican Party will control both the US Senate and the House of Representatives, according to the Associated Press.
This “clean sweep” will allow Donald Trump to execute his protectionist and expansionary policies without interruption. Trump vowed to raise import tariffs by 10% universally and lower taxes on corporations and workers in his election campaign. Read more…
GBP/USD outlook: Steep post-US election bear leg extends below 1.2700
Cable continues to trend lower, riding on the wave of so-called Trump trades, as Dollar rose significantly on post-election euphoria.
Steep bear leg extends into fifth consecutive day and hit new multi-week low, coming close to target at 1.2664 (Aug 8 low) guarding 1.2612 (June 27 low) on renewed probe through 1.2700 support, after bears cracked this level on Wednesday but failed to register close below it. Read more…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-refreshes-four-month-low-ahead-of-powell-baileys-speeches-202411141138