GBP/USD tumbles to two-month low, traders ditch GBP on UKs budget

GBP/USD Price Forecast: Tumbles to two-month low, traders ditch GBP on UKs budget

The Pound Sterling dropped to a new two-month low of 1.2885 against the Greenback during the session, as UK Gilts rose sharply following the budget release. However, the GBP/USD has recovered some ground yet is losing over 0.30% and trades at 1.2918. Read More…

Pound Sterling declines after lower US Jobless Claims

The Pound Sterling (GBP) declines to near 1.2900 against the US Dollar (USD) in Thursdays New York session, the lowest level in 10 weeks. The GBP/USD pair slumps after the release of the United States (US) Initial Jobless Claims for the week ending October 25, which came in surprisingly lower at 216K against estimates of 230K and the prior release of 228K, another job data that points to improving labor market conditions. Read More…

GBP/USD depreciates to near 1.2950 due to market caution ahead of US presidential election

GBP/USD extends its losses for the second successive day, trading around 1.2950 during the Asian session on Thursday. This downside of the pair could be linked to the solid US Dollar (USD) as a market caution persists amid uncertainty surrounding the upcoming US presidential election. Read More…