Sterling rose against the dollar on Thursday even as US data came in firm, with GDP beating forecasts, inflation rising in line with expectations and labour-market conditions described as robust. At the time of writing, GBP/USD was at 1.3340, up 0.19%, as traders weighed the resilience in US fundamentals against shifting rate expectations elsewhere.
Pound Eases as Dollar Regains Ground
Later in the European session, the pound eased, with GBP/USD near 1.3312 as the dollar regained ground. Markets maintained confidence in a Federal Reserve rate rise in December after the Fed left policy settings unchanged at Wednesday’s meeting, keeping the focus on relative monetary-policy paths and prompting a modest retracement in the pair.
