The Pound US Dollar (GBP/USD) exchange rate firmed on Tuesday, with the pairing striking its best levels since late September.
Latest — Exchange Rates:
Pound to Dollar (GBP/USD): 1.34974 (+0.22%)
Euro to Dollar (EUR/USD): 1.17894 (+0.22%)
Dollar to Japanese Yen (USD/JPY): 156.1925 (-0.46%)
Simplified Recap:
GBP/USD rose to 1.3497, its highest since late September, up 0.22%.
The US Dollar weakened broadly despite strong Q3 GDP growth of 4.3%, beating forecasts.
Markets saw strong data as reinforcing a risk rally and expectations of Fed rate cuts in 2025.
The Pound gained from light holiday trading, seasonal optimism, and improving UK outlook hopes.
With little data ahead, GBP/USD may continue climbing if the "Santa rally" mood holds.
Key Quote:
“Strong US GDP failed to lift the Dollar, instead feeding the risk rally pushing GBP higher.”
