Pound Sterling Price News and Forecast: GBP/USD weakens against US Dollar with UK employment in focus
|Pound Sterling weakens against US Dollar with UK Employment in focus
The Pound Sterling (GBP) drops to near 1.2900 against the US Dollar (USD) in London trading hours on Monday. The GBP/USD pair declines as the US Dollar extends Friday’s recovery and aims to revisit a four-month high. The US Dollar Index (DXY), which gauges Greenback’s value against six major currencies, climbs above 105.30.
The Greenback strengthens on expectations of higher investment and spending in the United States (US) as Republicans look set to take control of both the Senate and the House of Representatives, a scenario that would allow the Trump administration to implement fiscal policies quickly. Read more...
GBP/USD Weekly Forecast: Bets on strong rebound look premature as markets shift to UK GDP, US inflation data
GBP/USD returned to positive territory for the first time in five weeks, as the global market optimism and the central banks’ policy announcements overshadowed the resurgent demand for the US Dollar.
The Pound Sterling built on its recovery momentum in the early part of the week, as risk flows prevailed on hopes of Republican candidate Donald Trump’s victory in the US presidential race due on Tuesday. Additionally, profit-taking on the USD long positions ahead of the US election also helped the British Pound gain some positive traction, driving the pair back above the 1.3000 level. Read more...
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.