GBP/USD surges to one-week high as weak ADP data and US government shutdown dent Dollar
The British Pound (GBP) advances sharply against the US Dollar (USD) on Wednesday, with GBP/USD climbing to a one-week high, reaching its strongest level since September 24, as the Greenback remains under broad pressure amid a weaker-than-expected ADP Employment Change report, the ongoing United States (US) government shutdown, and mounting bets on further Federal Reserve (Fed) interest rate cuts. Read More…
Pound Sterling refreshes weekly high against US Dollar
The Pound Sterling (GBP) posts a fresh weekly high near 1.3490 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair edges higher as the US Dollar underperforms its peers, with the United States (US) government entering a shutdown. Read More…
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GBP/USD rises above 1.3450 on rising odds of further Fed rate cuts
GBP/USD extends its winning streak for the fourth successive session, trading around 1.3460 during the Asian hours on Wednesday. The pair may further appreciate as the US Dollar (USD) faces challenges after soft US jobs data increased the odds of Federal Reserve (Fed) rate cuts. The CME FedWatch Tool suggests that markets are now pricing in nearly a 97% chance of a Fed rate cut in October and a 76% possibility of another reduction in December. Read More…
