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Pound Sterling Price News and Forecast: GBP/USD ticks lower as the US Dollar regains ground
British Pound ticks down against US Dollar ahead of key US economic releases
The British Pound (GBP) edges down to near 1.3312 against the US Dollar (USD) during the European trading session on Thursday. The GBP/USD pair ticks lower as the US Dollar (USD) regains ground, with financial markets remaining confident of Federal Reserve’s (Fed) interest rate hike in December after leaving them steady in the policy meeting on Wednesday.
As of writing, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades slightly higher to near 102.20. The USD Index corrected on Wednesday after a three-day winning streak. Read more...
GBP/USD Price Forecast: Weakens below 1.3350, maintains downside bias below 100-day SMA
The GBP/USD pair trades in negative territory around 1.3320 during the early European trading hours on Thursday. The British Pound (GBP) weakens against the US Dollar (USD) following the UK Budget. The US September Personal Consumption Expenditures (PCE) inflation report will be the highlight later on Thursday.
The United Kingdom (UK) set out a target date for defense spending to rise to 3% of Gross Domestic Product (GDP), as the Finance Minister John Healey announced billions in aid for Ukraine in a “clear message to Moscow.” Healey on Wednesday set a target date of 2030 for the 3% figure while reaffirming its NATO commitment to reach 3.5% by 2035. Read more...
Top Articles
1Euro hits 17-month low as ECB holds rates, US PCE inflation accelerates2Lagarde speech: Fiscal uncertainty could hurt confidence3Canadian Dollar weakens as US PCE inflation and GDP back hawkish Fed bets4Bank of Canada: Further tightening risk highlighted – Rabobank5Natural gas: Prices surge on supply risks – ING6Crypto Today: Bitcoin, Ethereum, XRP fall as hawkish Fed tone weighs on sentiment7Japanese Yen ticks up from session lows after the release of mixed US data8Euro: ECB guidance could keep range intact against US Dollar – DBS9$52.34: Silver hits fresh yearly lows amid hopes of further Fed tightening
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