GBP/USD found a Fed-fueled surge on Friday, climbing roughly a full percent through the day’s trading and closing the week with a seventh consecutive bullish daily candle as the US Dollar slumps across the board.
GBP/USD vaulted over 1.3200 on broad-market Greenback weakness. Fed gave a head nod to impending rate cuts, sending risk appetite into the ceiling. Coming up next week: UK Monday holiday, US GDP and PCE inflation. Forecasting the Coming Week: Recession concerns take over Fed ’s easing According to the CME’s Fed Watch Tool, rate markets are pricing in roughly three-to-one odds of a double cut on September 18, with the rest of the rate board still committed to a single quarter-point cut.
Cable’s current bull run has yet to show signs of exhaustion, and the pair has closed in the green for all but one of the last 11 consecutive trading days, marking a dizzying run up the chart. GBP/USD 4-hour chart GBP/USD daily chart Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling is the oldest currency in the world and the official currency of the United Kingdom.
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