GBP/USD weekly perspective: The sterling pound seeks to resume the upward trend in the United Kingdom inflation week
The sterling pound (GBP) recovered its position against the US dollar (USD) after the GBP/USD torque exhibited strong price movements in both directions within a range of 150 pips during the week. After a painful start of the week, the GBP/USD managed to find its stability as the US dollar lost its impulse of recovery in the final part, with the optimism around the commercial truce between the US and China vanished.
On Monday, the torque was subjected to intense sales pressure, reaching a minimum of one month in 1,3140 after the US dollar was shot after the news of the long -awaited commercial truce between the US and China. After the commercial conversations of the weekend in Geneva, both parties agreed that the US would reduce tariffs on Chinese imports from 145% to 30% for a 90 -day negotiation period, and China would reduce tariffs from 125% to 10%. Read more…
GBP/USD maintains profits around 1,3300 while the US dollar weakens after the Moody’s reduction
The GBP/USD torque was recovered from the losses of the previous session, quoting near level 1,3300 during the Monday’s Asian session. The rebound is largely due to the renewed pressure on the US dollar (USD) after Moody’s Investors Service reduced US credit rating on a step, from AAA to AA1. The agency cited the increase in debt levels and the growing burden of interest payments as main concerns.
This movement is aligned with the previous sales of Fitch Ratings in 2023 and Standard & Poor’s in 2011. Moody’s now predicts that the federal debt of the US will increase to approximately 134% of GDP by 2035, compared to 98% in 2023. It is projected that the federal deficit will be extended to almost 9% of GDP, drive Debt, increased rights spending and decreased tax revenue. Read more…
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
