GBP/USD : British Pound / US Dollar

GBP/USD rose by 0.07% on Friday October 24, trading at 1.3335 with a weekly loss of 0.52% and monthly loss of 0.86%. September's UK Consumer Price Index remained steady at 3.8% which was below the forecasted 4.0%. This softer inflation print eased concerns about a hawkish Bank of England stance, leading to a dip in GBP/USD. UK GDP data for August showed a 0.1% month-on-month growth, meeting expectations and rebounding from a previous contraction. This could temper expectations for further Bank of England rate cuts. The UK budget deficit for the first four months of the fiscal year exceeded forecasts, raising concerns about potential tax hikes or spending cuts needed to meet fiscal rules. Its 52-week high was 1.3789, while its 52-week low was 1.21.

5 Days 1 Month 3 Months 6 Months YTD 1 Year 3 Years 5 Years 10 Years
-0.52% -0.86% -1.29% -0.05% 6.52% 2.80% 10.61% -0.02% -11.42%