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Pound Sterling Price News and Forecast: Pound Sterling fails to hold recovery as US Dollar recovers

Pound Sterling fails to hold recovery as US Dollar recovers

The Pound Sterling (GBP) faces an intense sell-off despite the United States' core Personal Consumption Expenditure (PCE) price index for August remaining softer than anticipated. The monthly core PCE expanded at a nominal pace of 0.1% in August against expectations and the former release of 0.2%. The annualized PCE has softened to 3.9% as expected from the former release of 4.3%. Headline PCE grew by 0.4%, doubling from July’s pace but remained slower than expectations of 0.5%. The headline data was expected to remain hot due to rising energy prices. Read More...
 

GBP/USD could now move into a consolidative phase – UOB

GBP/USD is now expected to navigate within the 1.2100/1.2380 range in the next few weeks, according to UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia. Read More...
 

UK Final GDP expands 0.2% QoQ in Q2 vs. 0.2% expected

According to the latest data published by the UK’s National Statistics, the final Gross Domestic Product (GDP) for the second quarter came in at 0.2% QoQ, matching the initial estimate of 0.2% and following a 0.2% expansion in the previous reading. Read More...

 

 

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