Pound Sterling Price News and Forecast: GBP/USD recovery could remain limited unless risk mood improves
|GBP/USD Forecast: Pound Sterling recovery could remain limited unless risk mood improves
GBP/USD registered six consecutive daily losses and fell over 2% in the previous week. The pair holds steady above 1.2600 in the European morning on Monday but the technical picture doesn't yet point to a buildup of recovery momentum.
The broad-based US Dollar (USD) strength weighed heavily on GBP/USD last week. Hawkish comments from Federal Reserve (Fed) officials and the inflation data from the US, which showed that the annual core Consumer Price Index (CPI) rose 3.3% in October, helped the USD outperform its rivals. Read more...
GBP/USD Weekly Forecast: Pound Sterling downside risks remain intact ahead of UK inflation data
The Pound Sterling (GBP) booked the seventh straight weekly loss against the US Dollar (USD), with the GBP/USD pair falling as low as 1.2630 during the week.
The USD rode the Trump trades optimism wave higher following US President-elect Donald Trump’s victory, clinching the highest level in a year against its major currency rivals. Markets build on the narrative that Trump’s tax cuts and trade tariff policies will likely rekindle inflationary pressures, calling for higher interest rates and eventually supporting the Greenback, US stocks and US Treasury bond yields. Read more...
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