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fxJun 30, 2026, 1:57 AM

GBP/USD dips below 1.3250 as Fed rate hike bets support USD

The British Pound weakened against the US Dollar, trading around 1.3240 during Asian hours on Tuesday, as expectations of a Federal Reserve rate hike bolstered the greenback.

GBPUSD

The GBP/USD pair edged lower to near 1.3240 in Asian trading on Tuesday, extending losses below the 1.3250 level. The move was driven by renewed strength in the US Dollar, supported by market speculation that the Federal Reserve may raise interest rates again.

Traders are now focusing on upcoming US jobs data, which could provide further clues on the Fed's policy trajectory. A stronger-than-expected report would likely reinforce hawkish expectations and add to downside pressure on cable.

Source: FXStreet Forex News