The GBP/USD fell to a near-term low of 1.2620 in Tuesday trading as broader markets shrug off upbeat economic data from the UK in favor of bidding up the US Dollar (USD) across the board, sending the Pound Sterling (GBP) into the new year’s lows and putting further pressure on the pair. Read More…
The Pound Sterling (GBP) falls sharply on Tuesday’s European morning session as the United Kingdom Office for National Statistics (ONS) reported a sharp slowdown in the Average Earnings data for three months ending November. The labor market remained steady in this period despite vulnerable economic conditions in the domestic and overseas markets. A softer-than-projected wage growth is expected to convince investors more about early rate cuts from the Bank of England (BoE). Read More…
GBP/USD moves lower to near 1.2690 during the Asian session on Tuesday. The Pound Sterling (GBP) loses ground against the US Dollar (USD) on risk aversion, which could be attributed to the concerns regarding geopolitical risks, dominating the sentiment of market participants. Furthermore, traders await the labor market data from the United Kingdom to be released on Tuesday. Read More…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-tests-into-2024s-lows-near-12620-202401161953