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GBP/USD Price Forecast: Drops below 1.3100 as Fed large rate cut odds wane The GBP/USD begins the North American session down by over 0.30% on Monday as traders trim the chances of a 50-basis point Fed interest rate cut in ten days. At the time of writing, the pair trades at 1.3075 after reaching a high of 1.3143. Read More… Pound Sterling dips below 1.3100 as Fed large rate cut bets wane The Pound Sterling (GBP) posts a fresh two-week below 1.3100 against the US Dollar (USD) in Monday’s North American session. The GBP/USD pair faces selling pressure as the US Dollar (USD) extends its recovery, with US Dollar Index (DXY) jumping to near 101.40. The Greenback gains ground as market bets that the Federal Reserve (Fed) will start its policy-easing process aggressively have diminished after Friday’s United States (US)Nonfarm Payrolls (NFP) data. Read More… GBP/USD sticks to intraday gains, remains below mid-1.3100s amid modest USD uptick The GBP/USD pair attracts some dip-buying during the Asian session on Monday and climbs back closer to mid-1.3100s in the last hour, though a combination of factors might cap any further gains. Read More…     Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-drops-below-13100-as-fed-large-rate-cut-odds-wane-202409091809

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Filed under: News - @ September 9, 2024 6:21 pm