Pound Sterling

Pound hopes for favourable FX ballot in 2024

Pound hopes for favourable ballots in 2024 election & beyond.

Berto

Jan 2, 2024 — 1 min read

GBP/USD

Sterling bulls are hoping the pound gets more votes in favour than against from the foreign exchange market in 2024, no matter who wins the expected UK general election.

GBP/USD could reach 1.35 for the first time since 2022 if sterling gets sacks full of positive votes. Opinion polls indicate the opposition Labour Party under Keir Starmer is heading towards a landslide election victory over Prime Minister Rishi Sunak's Conservatives, who have been in power since 2010.

The election must happen by January 2025, with possible dates in May or November. CFTC data showed the net GBP long position shrank by a third in late December.

Read more

Gold rebounds amid Fed rate cut uncertainty

Gold rebounds amid Fed rate cut uncertainty

As gold claws back losses, uncertainty over Fed rate cuts persists. Investors cautious as dollar strength influences precious metal.

Gold gains momentum on anticipation of US rate cuts

Gold gains momentum on anticipation of US rate cuts

Gold shines as US economy cools. Investors eye rate cuts, with dollar weak. Safe-haven buying amid global economic uncertainties

Pound slides as surprise inflation prompts selloff

Pound slides as surprise inflation prompts selloff

Unexpected inflation figures lead to a pound decline as investors react, raising speculation about potential Bank of England rate cuts

Gold holds steady above $2000 as weekend approaches

Gold holds steady above $2000 as weekend approaches

Gold holds steady above $2,000 after last week’s dovish signals from the U.S.

Risk Warning Please note that foreign exchange trading carries a high level of risk, which may not be suitable for all investors. Leverage can increase the risk of loss. Before engaging in forex trading, it's important to carefully consider your investment objectives, level of experience, and risk tolerance. You could lose all or part of your initial investment, so it's important not to invest more than you can afford to lose. It's also essential to educate yourself on the risks associated with forex trading and seek advice from a financial or tax advisor if you have any questions.