Policy divergence and geopolitics continue to drive sentiment in the forex market. The US dollar index (DXY) held steady in low 106.00s, while EUR/USD retreated and GBP/USD revisited the sub-1.2300 area. USD/JPY advanced to a new 34-year high around 154.8

Analysts at Rabobank predict EUR/GBP could break below 0.85 this year due to slower BoE rate cuts and a potentially uneventful UK election. They see GBP/USD dipping but EUR/GBP less impacted, expecting it to reach 0.84 in H2 2024.

Expectations for the Bank of England to start reducing interest rates from the June meeting have recently deepened on increasing signs that price pressures are easing. This week, the US Inflation data will significantly impact Fed rate cut expectations.

The Pound Sterling (GBP) regained its lost footing against US Dollar (USD), with GBP/USD clinching the highest level in seven months near the 1.2900 mark.

The Pound Sterling (GBP) regained its lost footing against US Dollar (USD), with GBP/USD clinching the highest level in seven months near the 1.2900 mark.

The Pound Sterling has depreciated against the US Dollar following mixed economic data from the UK and US. US inflation remains elevated

The Pound Sterling has depreciated against the US Dollar following mixed economic data from the UK and US. US inflation remains elevated

The GBP/USD pair remains on the defensive above the 1.2800 support during the early Asian trading hours on Tuesday. The lower bets on rate cut expectations from the Bank of England (BoE) weigh on the Pound Sterling (GBP). Investors await the UK labour mar

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GBP/USD has gained ground on Tuesday after the US ISM Services Purchasing Managers Index (PMI) and Factory Orders both missed expectations.

GBP/USD has gained ground on Tuesday after the US ISM Services Purchasing Managers Index (PMI) and Factory Orders both missed expectations.

GBP/USD ANALYSIS US dollar rebound looks tepid. UK inflation data is now key for 2024 rate expectations.

UK Finance minister Jeremy Hunt has gone some way towards restoring Britain's market credibility with a predictable budget

UK Finance minister Jeremy Hunt has gone some way towards restoring Britain's market credibility with a predictable budget

Our inclination Short positions beneath 1.2170 with focuses at 1.2140 and 1.2120 in expansion.

GBP/USD stays on the back foot after PM Boris Johnson sliced the quantity of days parliament will have in front of the Brexit due date of October 31st.

The euro recouped from before lows after Italy's PM Giuseppe Conte said he is leaving in front of no-certainty vote

The quantity of MPs competing for Moderate pioneers – and in this manner UK PM – has just contracted extensively in front of the previous evening's discussion

FX Strategists at UOB Gathering anticipate that Link should exchange inside a consolidative topic in the extremely close term.

Cable regains the composure following UK jobs report. The pair clinches fresh daily highs above the 1.2 mark.UK Claimant Count Change rose by 20.8K in December.

As of writing, the pair is up 0.11% at 1.2856 facing the next hurdle at 1.2879 (high Jan.14) seconded by 1.2892 (100-day SMA) and then 1.2927 (high Nov.22).

The UK parliament is set to resume Brexit deal debate on Monday, January 7 with fierce discussion expected to weigh on Sterling.