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GBP/USD continues to slip back as the US Dollar benefits from Senate approval of President Biden’s spending plans and continuing speculation that the Federal Reserve will taper monetary stimulus.
A modestly firmer US Dollar continues to be the main driver of GBP/USD, with speculation that the Federal Reserve will taper US monetary policy earlier than previously expected helping the US curre...
British Pound (GBP) Latest: GBP/USD to Remain Stable, No Response to UK Budget GBP price, news and analysis: GBP/USD continues to trade just under the 1.40 level, as it has since early Friday, and shows no sign yet of breaking either higher or lower near-term. There was nothing in Wednesday’s set-piece UK Budget, or the accompanying economic forecasts, to affect it one way or the other. Traders need to keep an eye out for rising Gilt yields, however, as they could begin to increase concerns about inflation and a possible response from the Bank of England. Advertisement ...
The UK Budget later this session will be a major political event but is not likely to affect Sterling, although the currency could move on the accompanying economic forecasts.
GBP continues to strengthen all round and further gains look likely, although GBP/USD is now looking overbought so a correction is possible before its advance resumes.