Pound Sterling Price News and Forecast: Pound Sterling fails to hold recovery as US Dollar recovers

The Pound Sterling (GBP) faces an intense sell-off despite the United States’ core Personal Consumption Expenditure (PCE) price index for August remaining softer than anticipated. The monthly core PCE expanded at a nominal pace of 0.1% in August against expectations and the former release of 0.2%. The annualized PCE has softened to 3.9% as expected from the former release of 4.3%. Headline PCE grew by 0.4%, doubling from July’s pace but remained slower than expectations of 0.5%. The headline data was expected to remain hot due to rising energy prices. Read More…

GBP/USD is now expected to navigate within the 1.2100/1.2380 range in the next few weeks, according to UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia. Read More…

According to the latest data published by the UK’s National Statistics, the final Gross Domestic Product (GDP) for the second quarter came in at 0.2% QoQ, matching the initial estimate of 0.2% and following a 0.2% expansion in the previous reading. Read More…