Pound Sterling slumps against US Dollar as Greenback turns positive
The Pound Sterling (GBP) trades 0.4% lower to near 1.3130 against the US Dollar (USD) during the European trading session on Friday. The GBP/USD pair faces selling pressure as the Pound Sterling remains on the back foot, and the US Dollar has recovered strongly. Read More…
GBP/USD slips near 1.3150 as UK government drops plans to raise tax rates
GBP/USD retraces its recent gains from the previous session, trading around 1.3150 during the Asian hours on Friday. The pair depreciates as the Pound Sterling (GBP) declines amid rising concerns over fiscal discipline and political stability in the United Kingdom (UK). Read More…
GBP/USD bulls struggle as UK tax plans and weak data weigh
GBP/USD caught a brief bullish slant to Thursday’s trading window, with Cable traders brushing off a worse-than-expected Gross Domestic Product (GDP) growth print from the third quarter. However, late-day flows turned sour after reports broke that UK Prime Minister Keir Starmer is poised to cancel a batch of planned tax increases intended to help bolster the UK’s questionable financial position. Read More…
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