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Pound Sterling Price News and Forecast: GBP/USD halts decline and reclaims 1.2600

GBP/USD halts decline and reclaims 1.2600 amid UK’s holiday and hawkish Fed

The British Pound (GBP) stopped its free-fall on Monday against the US Dollar (USD) amidst a UK Summer Bank Holiday, which spurred choppy trading amongst most FX pairs during the overlap of the London-New York session. At the time of writing, the GBP/USD is trading at 1.2601, gaining 0.19%. Read More...

Pound Sterling remains vulnerable as high inflation threatens economic outlook

The Pound Sterling (GBP) recovered after printing a fresh 14-week low, but the broader bias remains bearish as the British economy is exposed to a possible recession due to an aggressive rate-tightening cycle by the Bank of England (BoE). The GBP/USD pair communicates fears about rising interest rates as the tight labor market is losing its appeal, and firms have reported a decline in production due to a dismal demand outlook. Read More...
 

GBP/USD could revisit the 1.2480 region – UOB

Further downside in GBP/USD could extend the decline to the 1.2480 zone in the next few weeks, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Read More...

 

 

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