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The GBP/USD pair is nearing its lowest point.

With the British pound sterling continuing to decline against the US dollar. The current exchange rate is at 1.2222.

Dovish comments from UK monetary policymakers have contributed to the pound's decline, with market attention focused on uncertain interest rate forecasts.

Today, the UK will release a significant amount of economic data, including the Q3 GDP assessment. The economy is expected to have contracted by 0.1% q/q, which is within the normal range but could cause concern if it shrinks further. Industrial production may also see a decrease due to high lending costs.

On November 15, the release of inflation statistics in the UK will once again prompt a reaction from the pound.

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The post GBP's Weakness Continues: Overview for November 10, 2023 appeared first at R Blog - RoboForex.

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By: Anna Rostova
Title: GBP's Weakness Continues: Overview for November 10, 2023
Sourced From: blog.roboforex.com/blog/2023/11/10/gbps-weakness-continues-overview-for-november-10-2023/
Published Date: Fri, 10 Nov 2023 09:19:28 +0000

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