Post #15426

Pound Pushes Higher as USD Slips Ahead of the Fed GBP/USD continues to climb, now pushing toward 1.3350 after clearing recent resistance. Momentum favors buyers for now. The pound caught a bid after the UK’s services PMI was came in beating expectations, keeping the economy in expansion territory. But beneath the headline, growth cooled, employment fell at the fastest pace since February, and price pressures softened to early-2021 lows. Markets still expect a BoE rate cut this month, but the softer inflation backdrop suggests the bank may pause after December — giving GBP a short-term boost as expectations stabilize. Today’s ADP coming in at -32K only reinforces the bearish USD tone for now. With limited U.S. data before the FOMC meeting, the greenback remains vulnerable to further downside. Longer-term, USD will be the beneficiary of the highest real-yield currency against it's major competitors. - Alan