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

British Pound eases against US Dollar as key US economic releases approach

At near 1.3312 against the US Dollar (USD), the British Pound (GBP) trades slightly lower in Thursday’s European session. Renewed strength in the US Dollar (USD) weighs on GBP/USD, as financial markets remain confident that the Federal Reserve (Fed) will raise interest rates in December, having held them unchanged at Wednesday’s policy meeting.

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

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

GBP/USD Price Forecast: Slips below 1.3350 as bearish bias persists beneath 100-day SMA

Around 1.3320 in early European trading on Thursday, GBP/USD remains in negative territory. Following the UK Budget, the British Pound (GBP) loses ground against the US Dollar (USD). Later on Thursday, attention will turn to the US Personal Consumption Expenditures (PCE) inflation report for September.

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% figure and reiterated the UK’s NATO commitment to reach 3.5% by 2035. Read more...