GBP Stabilizes Near Six-Month Highs Ahead of Key US Events

The British Pound (GBP) has stabilized near six-month highs against the US Dollar (USD), with investors waiting for key events in the US. The GBP/USD pair is hovering around 1.3630, just short of its recent peak at 1.3675.

FX volatility remains low due to the absence of major macroeconomic releases ahead of the US Personal Consumption Expenditures (PCE) Price Index figures and the Jackson Hole central bankers' summit.

According to TD Securities' analysts, USD positioning has flipped from long to short, with room for further growth. Strategists at UOB Group also see potential for further GBP appreciation in the next one to three weeks, targeting 1.3700 unless it breaks below 1.3585.