Pound To Dollar Price Forecast: GBP Short-Term Technicals Are "Bearish"
The US Dollar (USD) found modest support after the Federal Reserve delivered a widely expected 25 basis-point rate cut, lowering its target range to 3.75%–4.00%.
Fed Chair Jerome Powell emphasised that another rate reduction in December was “not a forgone conclusion,” signalling a more hawkish bias than many investors anticipated.
another rate reduction in December was “not a forgone conclusion”
The Pound (GBP) remained subdued in the absence of major UK data releases and faced pressure from ongoing fiscal concerns, including speculation surrounding Chancellor Rachel Reeves’s upcoming Autumn Budget.
Markets are fixated on reports that Chancellor Rachel Reeves may implement tax rises to address a growing £20bn fiscal shortfall.
Author's summary: Pound to dollar price forecast is bearish.