GBP Vulnerable Near Two-Month Low as USD Bulls Eye US Macro Releases

The British Pound (GBP) is trading near its two-month low against the US Dollar (USD), around the 1.3200 mark, and analysts suggest that it may continue to face pressure as USD bulls eye key US macro releases.

The upcoming release of the Personal Consumption Expenditures (PCE) Price Index and final Q2 GDP report are expected to influence market expectations about the Federal Reserve's policy path and drive the US Dollar.

The USD Index has shot to a fresh high since July 28, amid bets for another Fed rate hike in October, and persistent geopolitical uncertainties stemming from the US-Iran standoff may continue to benefit the safe-haven dollar.