The GBP/USD exchange rate surged above 1.34 during the North American trading session, reflecting a 0.68% increase. This rally was largely driven by the Federal Reserve's anticipated 25-basis point rate cut, coupled with a disappointing jobs report that put further pressure on the US dollar. At the time of writing, the currency pair was trading at 1.3417, recovering from a daily low of 1.3354.
The weakening dollar, in response to the Fed's actions and softer economic data, has provided support for the British pound. As traders adjust their positions, the upward momentum in GBP/USD highlights the potential for continued volatility in the forex market, particularly as investors assess future monetary policy directions from both the Fed and the Bank of England.
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Data Source: FX Killer Analysis Team Updated: 2025-12-11 15:48
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.