GBP/USD retreats to 1.3335 as traders adopt a wait-and-see approach ahead of the UK Autumn Budget and the upcoming Federal Reserve interest rate decision.
GBP/USD declined below 1.3350 as traders await the UK Autumn Budget and the Fed interest rate decision, reflecting near-term bearish pressure on the pound.
The British Pound faces downward pressure against the US Dollar, trading near 1.3335 during early European hours. Investors are exercising caution, opting to remain on the sidelines ahead of critical fiscal and monetary policy updates from the UK government and the Federal Reserve.
The pair is under pressure as traders reduce exposure and wait for clarity from the upcoming UK Autumn Budget and the Federal Reserve's interest rate decision.