GBP/USD Forecast: Pound Sterling closes in on key 1.2050 support isk-averse market atmosphere and rising US Treasury bond yields help the US Dollar outperform its rivals on Thursday and makeit difficult for the pair to shake off the bearish pressure. The benchmark 10-year US Treasury bond yield extended its weekly rally and climbed to its highest level since 2007 near 5% on Thursday. Later in the day, Federal Reserve Chairman Jerome Powell will speak before the Economic Club of New York.
Pound Sterling falls back as stubbornly high inflation triggers slowdown fears The Pound Sterling strives for a cushion, remaining vulnerable due to persistent inflation fears. The GBP/USD pair struggles for traction as the UK Consumer Price Index report for September released on Wednesday showed inflation remains stubborn due to higher Oil prices, services inflation and strong wage growth. Inflation in the UK is the highest among G7 economies.
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GBP/USD Price Forecast: Pound Exposed Ahead of PowellGBP prices are on offer as risk aversion gains traction across FX markets. Fed Chair Powell will be watched later today for any insights into monetary policy going forward.
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