GBP/USD edges lower as US Dollar recovers: Pound Sterling Price News and Forecast

British Pound slips against US Dollar before key US economic data

1.3312 is the approximate level for the British Pound (GBP) against the US Dollar (USD) as sterling edges lower in Thursday’s European session. A recovering US Dollar (USD) weighs on GBP/USD, while financial markets remain confident that the Federal Reserve (Fed) will raise interest rates in December after keeping them unchanged at Wednesday’s policy meeting.

Near 102.20, the US Dollar Index (DXY) is trading slightly higher at the time of writing. The index measures the Greenback against six major currencies. Wednesday brought a correction in the USD Index following three consecutive days of gains. Read more...

TMGM Analysis: Financial Market News, Economic Calendar & Market Insights

1.3350 gives way: GBP/USD price forecast stays bearish below 100-day SMA

1.3320 is the approximate level for GBP/USD as the pair posts losses in early European trading on Thursday. Following the UK Budget, the British Pound (GBP) loses ground against the US Dollar (USD). Attention later on Thursday will centre on the US September Personal Consumption Expenditures (PCE) inflation report.

A target date for defence spending to reach 3% of Gross Domestic Product (GDP) was outlined by the United Kingdom (UK), as Finance Minister John Healey announced billions in aid for Ukraine in a “clear message to Moscow.” On Wednesday, Healey named 2030 as the target for the 3% level and reiterated the UK’s NATO commitment to reach 3.5% by 2035. Read more...