GBP to USD

A renewed decline in global markets has put fresh pressure on the British Pound and all indications are further losses are likely, potentially resulting in ...

In short, the U.S. As the U.S. To stay on top of the market set your own free FX rate alert is exporting its inflation to the detriment of the rest of the world. The inflow of capital this creates is meanwhile crucial in supporting the value of Sterling. This is evident in surging bond yields of both short- and long-term timeframes, which is in turn raising mortgage rates and promising a sharp slowdown in the UK housing market over coming months. [sales of new homes](https://www.census.gov/construction/nrs/pdf/newressales.pdf) surged 28.8% in August to 685K, this despite the Fed funds rate having already been raised to 3-3.25%. [consumer confidence](https://www.conference-board.org/topics/consumer-confidence) rose 4.2% in September, marking the second consecutive increase and easily exceeding the expected gain of 1.3%. [showing](https://www.census.gov/manufacturing/m3/adv/pdf/durgd.pdf) a dip of 0.2% in August, but this was better than the consensus expectation for a decline of 0.3%. [Pound to Dollar](/data/currencies/gbp-pairs/GBPUSD-exchange-rate) exchange rate fell to 1.0657, having been as high as 1.0838 earlier in the day. The Pound is strongly correlated with risk and tends to fall when global markets are in retreat. A renewed decline in global markets has put fresh pressure on the British Pound and all indications are further losses are likely, potentially resulting in a retest of recent lows.