Citing Bpaynews, the U.S. dollar weakened as traders priced in a 76% chance of a December Fed rate cut, while GBP/USD approached 1.32 ahead of the UK Autumn Budget. The move followed softer U.S. employment data and a Bloomberg report naming Kevin Hassett as a potential next Fed Chair, reinforcing dovish sentiment. Sterling's rise was also influenced by expectations of a 61 bps BoE easing by end-2026. Technical analysis shows GBP/USD testing key resistance near 1.3215, with a break likely to target 1.33. Traders are also watching U.S. jobless claims, Thanksgiving-thinned liquidity, and Eurozone inflation data.
GBP/USD Tests 1.32 Amid UK Autumn Budget and Fed Rate Cut Expectations
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