Forex. Pound/Dollar (GBP/USD) forecast for today
The pound/dollar exchange rate is steadily declining. The pair has gained a foothold in the support area of 1.3317, the market trend of the last trading sessions remains. If the currency pair breaks through the support at 1.3321, then the pound can gain a foothold in a lower trading framework, at the level of reliable support at 1.3230.
The yield on 10-year UK bonds has moved away from the November minimum and is now at 0.9685%.
The US dollar is still strongly strengthening and putting pressure on the pound. Meanwhile, according to the latest minutes of the Fed, published on Wednesday, some of the leaders of the US Central Bank, including the deputy chairman of the Fed Richard Clarida, member of the Board of Governors Christopher Waller, as well as the heads of the Federal Reserve Banks (FRB) of St. Louis and San Francisco James Ballard and Mary Daly, have already made it clear that they are ready to discuss increasing the pace of reduction of the asset repurchase program at a meeting on December 14– 15.
Market participants are likely to wait for the pound's reaction on Monday. On this day, the news background will be focused on the UK. The focus will be on the volume of consumer lending by the Bank of England, the M4 monetary aggregate, the number of mortgage loans approved and the number of mortgage loans approved.