GBP/USD faced renewed selling in the Asian session Thursday, with a prior
rebound from a two-week low around 1.3270 stalling. The pair traded near 1.3300
in the past hour as broad dollar strength hit sterling, though a lack of
sustained selling warrants caution for bears. Elevated energy-driven inflation
risks and roughly an 80% chance of a December Fed hike per the CME FedWatch
underpin the dollar after last session’s rate decision. Ongoing geopolitical
uncertainty is also supporting the safe-haven dollar, while expectations for
further Bank of England tightening may limit sterling’s downside.
