In Tuesday’s session, the USD weakened against most of its rivals, driven by weaker-than-expected employment data, which fueled dovish bets on the Federal Reserve (Fed). In addition, the GBP also traded weak against most of its rivals following the release of food inflation figures from the UK in August. Read More…
The Pound Sterling (GBP) recovered strongly on Tuesday on hopes that an interest rate hike of 25 basis points (bps) by the Bank of England (BoE) at its September monetary policy meeting will neutralize the Federal Reserve-BoE divergence. The revival move in the GBP/USD pair faded as further policy tightening by the BoE will dampen the economic outlook. Read More…
Extra losses could drag GBP/USD to the 1.2530 region in the next few weeks, suggest UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Read More…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-regains-the-100-day-sma-as-us-yields-sink-202308292131