The British Pound (GBP) still trades on the back foot against the US Dollar (USD) slumps below the 1.2200 psychological level, with sellers setting their sights on the 1.2000 figure. The GBP/USD is trading at 1.2159 after hitting a daily high of 1.2215. Read More…
The Pound Sterling (GBP) remains on a bearish trajectory as investors worry about the UK’s economic outlook. The GBP/USD pair weakens further as a persistent Consumer Price Index (CPI) and a restrictive interest rate policy by the Bank of England (BoE) continue to accelerate the burden on households. The outlook for the GBP/USD pair worsened further as the UK’s Services PMI remained below the 50.0 threshold for the second straight month in September in an S&P Global preliminary PMI report. Read More…
Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group see GBP/USD facing extra downside in the short-term horizon. Read More…
