The GBP/USD pair builds on last week's breakout momentum and climbs to over a one-month peak, around mid-1.2900s during the Asian session on Monday.
A combination of supporting factors lifts GBP/USD to a one-month top on Monday. Diminishing odds for a September BoE rate cut continues to underpin the Sterling. Dovish Fed expectations and a positive risk tone keep the USD bulls on the defensive. The GBP/USD pair builds on last week's breakout momentum and climbs to over a one-month peak, around mid-1.2900s during the Asian session on Monday.
Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling is the oldest currency in the world and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, aka ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders , and EUR/GBP .
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