British Pound Latest – GBP/USD Under a Range of Influences This Week

[MongiIG]

Nov 14, 2022 | DailyFX
Nick Cawley, Senior Strategist

GBP/USD - PRICES, CHARTS, AND ANALYSIS

• The US dollar looks to consolidate recent losses.
• Inflation, jobs, and the Autumn Statement will steer GBP this week.

Cable (GBP/USD) is up over 14% since it hit its nadir on September 26 and now is looking at levels last seen nearly three months ago. The heavy Liz Truss/Kwasi Kwarteng sell-off in Sterling has been mostly reversed, while the recent weakness of the US dollar is giving the move a secondary push. The US dollar has fallen sharply over the last two weeks as traders pare back their bets of another super-sized US rate hike for a more moderate approach.