GBP/USD holds near 1.3160 as traders wait for NFP and UK CPI
The Pound Sterling is steady on Tuesday as traders shift worried about the economic outlook in the US and market participants eyeing crucial NVIDIA earnings for Q3, keeping US equity markets in the red. The GBP/USD trades at 1.3156 virtually unchanged. Read More…
Pound Sterling drops amid caution ahead of UK inflation data
The Pound Sterling (GBP) trades subdued against its major currency peers on Tuesday as investors turn cautious ahead of the United Kingdom (UK) Consumer Price Index (CPI) data for October, which will be released on Wednesday. Read More…
GBP/USD remains subdued around 1.3150 as UK Chancellor Reeves abandons tax rises
GBP/USD remains subdued for the third successive session, trading around 1.3150 during the Asian hours on Tuesday. The pair struggles as the Pound Sterling (GBP) comes under strain after the United Kingdom (UK) Chancellor of the Exchequer Rachel Reeves abandoned planned income-tax rises. The decision has raised questions about the UK’s fiscal outlook, despite the Office for Budget Responsibility lowering its budget deficit forecast to £20 billion from £35 billion. Reeves is still anticipated to pursue revenue through threshold changes and salary-sacrifice reforms, favoring a smaller-scale budget over significant tax increases. Read More…