Pound Sterling Price News and Forecast: GBP/USD eyes 1.2800

The GBP/USD climbed 0.31% during the North American session and traded at 1.2746 after bouncing off daily lows of 1.2690. UK’s spring budget announcement and US Federal Reserve’s Chair Jerome Powell’s testimony sponsored a leg-up in the pair, which is set to test the 1.2800 mark. Read More…

The Pound Sterling (GBP) remains upbeat in Wednesday’s late European session amid the release of the United Kingdom’s 2024 budget statement. Chancellor of the Exchequer Jeremy Hunt said that the Office for Business Responsibality (OBR) has raised Gross Domestic Product (GDP) growth forecasts for 2024. The UK’s economys is expected to grow by 0.9% from 0.8% forecasted in November. The Convervative Party said it focuses on reducing budget deficit to 1.2% in 2028-29. Read More…

GBP/USD retraces daily losses and seems to continue its winning streak, hovering around 1.2700 during the Asian trading session before the UK Chancellor Jeremy Hunt’s Budget Report on Wednesday. Hunt is slated to unveil the government’s fiscal agenda, outlining tax and spending plans ahead of the general election. Speculation suggests he may reduce national insurance contributions for employees, following a 2p reduction announced in the autumn statement. Read More…