Pound Sterling Price News and Forecast: GBP/USD under pressure on US debt ceiling woes

The Pound Sterling (GBP) lost some ground against the US Dollar (USD) spurred by risk aversion amidst growing fears that the banking crisis in the United States (US), while the US debt ceiling theme, take the spotlight ahead of the Federal Reserve (Fed) decision. At the time of typing, the GBP/USD is trading at around the 1.2470-80 areas after dipping towards 1.2435. Read More…

The Pound Sterling (GBP) bleeds into the 1.24s against the US Dollar (USD) during the US session on Tuesday, as USD gains support from the news of the emergency rescue of First Republic Bank over the weekend. The takeover of the troubled lender by JP Morgan suggests the Federal Reserve is much more likely to hike rates at its meeting concluding Wednesday. The release of lower-than-expected JOLTS Job Openings data triggers a sell-off in the US Dollar, however, providing a late lift to the pair during US hours. Read More…