GBP/USD steadies after sharp drop as Reeves’ tax warning sparks fiscal jitters
The GBP/USD holds firm on Wednesday following Tuesday’s 0.90% losses due to UK’s finance minister Rachel Reeves saying that she could raise taxes to meet her fiscal rules. The pair trades at 1.3028 virtually unchanged. Read More…
GBP/USD posts modest gains above 1.3000, traders await US private payroll data
The GBP/USD pair posts modest gains near 1.3025 during the early European session on Wednesday, bolstered by a softer US Dollar (USD). However, the potential upside for the major pair might be limited, as UK Finance Minister Rachel Reeves hinted at broad tax rises in her budget later this month. The US October private payroll and ISM Services Purchasing Managers Index (PMI) reports will be published later on Wednesday. Read More…
GBP/USD plunges into new lows as losses accelerate
GBP/USD fell further on Tuesday, making a clean downside break of the 1.3100 handle and shedding around 0.9% over a single day as Cable losses continue to pile on. The Pound Sterling (GBP) has closed flat or down against the US Dollar (USD) for all but two of the last 12 consecutive trading sessions as GBP/USD races toward a third straight week of one-sided declines. Read More…
