GBP/USD gains near 1.3250 amid rising Fed rate cut bets
GBP/USD continues its winning streak for the seventh successive session, trading around 1.3240 during the Asian hours on Friday. The pair strengthens as the US Dollar (USD) weakens amid growing expectations of a Federal Reserve (Fed) rate cut in December.
According to the CME FedWatch Tool, markets are now pricing in over an 87% chance of a 25 bps cut at the upcoming December meeting, a sharp rise from the 39% probability seen just a week earlier. Traders are also anticipating three additional rate cuts by the end of 2026. Read more…
GBP/USD steady at 1.3230 as UK budget offsets US Dollar pressure
The GBP/USD pair remains steady at around 1.3230 on Thursday as market participants digest the UK’s Autumn Budget amid thin trading liquidity conditions, with US markets remaining closed in observance of the Thanksgiving holiday. At the time of writing, the pair is flat at 1.3232, virtually unchanged.
European bourses trade with a positive mood after Wall Street ended Wednesday’s session in the green ahead of the long weekend. The UK Chancellor Rachel Reeves revealed the Autumn Budget. Read more…
