Pound Sterling rebounds from lows since November
|GBP/USD edges higher to above 1.2450 amid hawkish sentiment surrounding Fed
GBP/USD gains ground amid a stable US Dollar (USD), trading around 1.2460 during Asian hours on Monday. The US Dollar (USD) maintains its position below its peak since November 2023, potentially restricting the upward momentum of the GBP/USD pair.
US Dollar Index (DXY) hovers around 106.00, with the 2-year and 10-year yields on US Treasury bonds standing at 4.91% and 4.55%, respectively, by the press time. The elevated US yields may offer support to bolster the US Dollar (USD). Read more...
GBP/USD Weekly Forecast: Is Pound Sterling set for more pain in the UK inflation week?
The Pound Sterling (GBP) resumed its downside against the US Dollar (USD), sending the GBP/USD pair to the lowest level in four months below 1.2500.
After witnessing a decent comeback in the first half of the week, GBP/USD sellers returned with a bang amid a resurgent demand for the US Dollar. Expectations surrounding the US Federal Reserve (Fed) policy pivot continued to play their part alongside heightened geopolitical tensions in the Middle East, helping the Greenback reach its highest level in five months against its major counterparts above 105.00. Read more...
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