Pound Sterling recovers against US Dollar on US recession fears
The Pound Sterling (GBP) bounces back to near 1.2800 against the US Dollar (USD) in Tuesday’s North American session from the monthly low of 1.2707 posted on Monday. The GBP/USD pair recovers as the US Dollar resumes its downside move after a short-lived recovery in the last two trading days. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, tumbles to near 103.00. Read more...
GBP/USD edges slightly lower – Scotiabank
Pound Sterling (GBP) is soft, down a modest 0.2% vs. the US Dollar (USD) and a mid-performer among the G10 currencies, Scotiabank's Chief FX Strategist Shaun Osborne notes.
"UK PM Starmer’s response to trade tensions appears to be centered around domestic measures targeting regulation reforms and tax breaks for sectors impacted by the US tariffs. Rate expectations have also shifted, with markets moving to price in a full 25bps cut for the BoE’s May 8 meeting, adding about 5bps over the past week or so." Read more...
GBP/USD: Set to edge lower to 1.2675 before stabilising – UOB Group
Pound Sterling (GBP) could edge lower to 1.2675 before stabilisation is likely vs US Dollar (USD); any further decline is unlikely to reach 1.2580. In the longer run, GBP could decline further; it is unclear if it can reach the next major support at 1.2580, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
24-HOUR VIEW: "GBP dropped sharply for the second day in a row yesterday, closing lower by 1.41% at 1.2724. The sharp decline over the past couple of days is deeply oversold. However, GBP could edge lower to 1.2675 before stabilisation is likely. Any further decline is unlikely to reach the next major support at 1.2580. Resistance is at 1.2820; a breach of 1.2870 would indicate that the current downward pressure has eased." Read more...
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