GBP/USD improves to near 1.2740 on subdued US Dollar, focus on UK housing data
GBP/USD attempts to recover its losses registered in the previous session. The GBP/USD pair trades slightly higher around 1.2740 during the Asian hours on Friday. The US Dollar (USD) attempted to halt its losing streak before the end of the year 2023, but it appears to be struggling to stay in positive territory. The US Dollar Index (DXY) trades lower than 101.13 at the time of writing.
United States (US) Treasury yields experiences a downward movement after posting gains in Thursday’s session. This development is notable as it weighs on the Greenback, with investors predicting reduced interest rates soon. The 2-year and 10-year yields closed higher at 4.28% and 3.84%, respectively, in the previous session. However, on Friday, both yields are standing lower at 4.27% and 3.83%, respectively, by the press time. Read more…
GBP/USD forecast to rise to 1.3500 in 2024 – Goldman Sachs
GBP/USD is set to extend its bullish momentum to 1.3500 next year, the Head of global FX at Goldman Sachs said in his latest note, citing correlation with equities and diminishing fears of global recession. Read more…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-retraces-its-recent-losses-202312290248