Pound Sterling Price News and Forecast: GBP/USD rally breaks 1.3100 barrier amid soft US PPI data

GBP/USD rallies past the 1.3100 mark and is gaining close to 1% on Thursday, as overall US Dollar (USD) weakness extended amid speculations the Federal Reserve (Fed) is closing to finishing its tightening cycle after June’s PPI and CPI data was softer than expected. The GBP/USD is exchanging hands at 1.3111 after hitting a daily low of 1.2979. Read More…

The Pound Sterling (GBP) has climbed to 1.3080, continuing its five-day winning spell despite the rising burden of higher interest rates by the Bank of England (BoE) on the United Kingdom’s manufacturing sector. The GBP/USD pair has been filled with an adrenaline rush as the market mood has turned extremely cheerful, and the BoE is expected to continue its policy-tightening spell in spite of building pressure on the economic outlook. Read More…

UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang suggest GBP/USD could revisit 1.3100 in the not-so-distant future. Read More…