- Data showed that annual US inflation fell further below 3% in November.
- Figures on Thursday revealed a worsening UK budget situation.
- Inflation in the UK was lower than anticipated in November.
The dollar is caught in the sway of softer inflation signals and continues its decline, casting a favorable glow on the GBP/USD weekly forecast.
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Ups and downs of GBP/USD
The pound ended the week slightly high, although it was nearly flat after fluctuating. It remained stable against the dollar, with traders absorbing the latest information on the UK budget deficit. Moreover, the impact of Wednesday’s November inflation data, which was lower than anticipated, continued to resonate in the market.
Thursday’s figures revealed a worsening budget situation for British Prime Minister Rishi…
