Pound Dollar forecast page 9 - GBP USD

GBP/USD Exchange Rates Dip after UK GDP Miss, Fed “Dot Plot” Crucial for Near-Term Direction Weaker-than-expected UK data undermined the Pound on Wednesday with the Pound to Dollar (GBP/USD) exchange rate retreating to 1.2510. Markets will speculate that there will be a more dovish Bank of England (BoE) policy. The dollar...

Yield Spreads Edge Against the Pound After UK and US Data Releases, GBP/USD Exchange Rate Unable to Hold 1.2600 The Pound to Dollar (GBP/USD) exchange rate briefly spiked to 1.2615 after the latest US inflation data, but failed to hold the gains and quickly retreated to lows just below 1.2550 in choppy trading. The dollar drifted...

The Pound to Dollar exchange rate hit highs at 1.2590 on Monday, before settling around 1.2570. Pound sentiment has improved, but the scope for gains is likely to be limited while the Federal Reserve maintains a determination to push back against market expectations of rate cuts. Goldman Sachs now has a 3 and 6-month GBP/USD...

Markets Consolidate Ahead of US Jobs Data, GBP/USD Exchange Rate at Risk of Testing 1.25 The Pound to Dollar (GBP/USD) exchange rate has been held in relatively narrow ranges during the past 24 hours with only a brief move above the 1.2600 level while there was support on approach to 1.2550. The pair consolidated around 1.2580 on...

US Dollar Resilient Despite Weak US Jobs Growth, GBP/USD Exchange Rate Held Close to 10-Day Lows The latest US data continued to point to a slowdown in the labour market and bond yields declined. The Pound, however, was unable to make headway, especially with weak UK data and Bank of England concerns over UK credit dynamics. The...

GBP/USD Exchange Rate Focus Remains on 1.2600 Support After Mixed US Data The US data failed to provide a decisive market trigger on Tuesday, although the bias remained for a tentative dollar recovery after a heavy sell-off during November. The Pound to Dollar (GBP/USD) exchange rate again bounced from 1.2600 support, but struggled...

Bank of America expects that the Pound to Dollar (GBP/USD) exchange rate will strengthen to 1.31 at the end of 2024. Goldman Sachs, however, expects that GBP/USD will weaken to 1.18 early next year and trade slightly below current levels at 1.25 in 12 months. Markets are now pricing in more aggressive Fed rate cuts during 2024 while...

UK and Global Inflation Pressures in Focus, GBP/USD Exchange Rate Finds Support at 1.2600 European currencies have been generally on the back foot on Thursday as the dollar has secured a net recovery in global markets, but with some Pound resilience in evidence amid fears over sticky UK inflation. The Pound to Dollar (GBP/USD)...

The Pound to Dollar exchange rate held firm ahead of Tuesday’s New York open, but failed to make significant headway. GBP/USD did, however, spike higher following dovish comments from Fed Governor Waller. With risk conditions also improving, GBP/USD jumped to 12-week highs at 1.2710 as the Euro to Dollar (EUR/USD) exchange rate...

The Pound to Dollar exchange rate hit 12-week highs just above 1.2640 on Monday before consolidation around 1.2625. The relatively light economic calendar this week will tend to increase the importance of more technical factors. One significant element will be month-end trading. According to Barclays; “Our proprietary month-end...