The British Pound Dips to a Fresh low: Overview for October 04, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSD_8-Copy-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="GBP/USD analysis today" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/gbpusd/" data-internallinksmanager029f6b8e52c="36" title="GBP/USD">GBP/USD</a> pair continues its downward trajectory.</p>
<p>The British pound, in comparison to the US dollar, remains on a steady decline. The current exchange rate for GBP/USD is at 1.2080.</p>
<p>The swift ascent of US treasury bond yields is reinforcing the USD, impacting riskier assets, and bolstering the USD against major currencies.</p>
<p>As per FedWatch, investors are anticipating a Fed <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> increase in November with a 35% chance and in December with a 55% likelihood. The potential widening of the interest rate <a title="<div class="wpg-tooltip-content"><p>A gap is an area of price gaps and discontinuity on a financial instrument's chart. It occurs when the opening price of a trading period has risen or fallen significantly compared to the closing price of the previous trading session. As a rule, gaps occur under the influence of important news.</p></div>" href="https://blog.roboforex.com/glossary-terms/gap/">gap</a> between the Federal Reserve and the Bank of England is exerting downward pressure on the GBP.</p>
<p>Attention is focused on the imminent release of the Non-Farm Payroll (<a href="https://blog.roboforex.com/blog/2019/10/15/trading-news-how-to-make-money-on-non-farm-payrolls/" data-internallinksmanager029f6b8e52c="88" title="Nonfarm Payrolls">NFP</a>) report for September, set for Friday. If the data surpasses expectations, the probability of a November interest rate hike will rise. Consequently, this would provide further support to the dollar while intensifying the pressure on the pound.</p>
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