The Pound Sterling (GBP) struggles to sustain against the US Dollar amid deepening tensions in Middle East region, which have dampened market sentiment. US military and its allies have launched airstrikes on Houti rebels as they were warned for attacking merchant vessels flowing from Red Sea. This has escalated fears of oil supply disruptions and entry of Iran between Israel-Hamas war. Read More…
The GBP/USD pair gains ground to nearly the weekly high during the early Asian trading hours on Friday. The November UK Gross Domestic Product (GDP) is estimated to grow by 0.2% MoM from the 0.3% contraction in the previous reading. GBP/USD currently trades near 1.2780, gaining 0.16% on the day. Read More…
The Pound Sterling remains on the back foot in the mid-North American session on Thursday, as inflation in the United States (US) picked up more than estimated in December, which might deter the US Federal Reserve (Fed) from easing monetary policy as investors estimate. The GBP/USD trades at 1.2734, printing losses of 0.02%. Read More…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-pound-sterling-drops-further-as-market-sentiment-deteriorates-202401121958