{
  "id": 12073216,
  "title": "British Pound softens as US Dollar gains despite easing Fed rate hike odds",
  "url": "https://urgent.news/2026/10/05/british-pound-softens-as-us-dollar-gains-despite-easing-fed-rate-hike",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-05T01:14:26.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/british-pound-softens-as-us-dollar-gains-despite-easing-fed-rate-hike-odds-202610050114"
  },
  "original_language": "en",
  "account": "The British Pound (GBP) weakened as the US Dollar (USD) strengthened after Fed rate hike odds were scaled back due to weak US employment data. Market participants now anticipate a 77.9% probability of the Fed leaving interest rates unchanged at its October meeting, up from 74% prior to the jobs report. Weak US Nonfarm Payrolls data showed only a 29,000 increase in September, falling short of expectations. The US unemployment rate also rose to 4.2% from the revised August gain of 133,000. On the UK side, the Bank of England (BoE) policy rate hike expectations have decreased by around 30 basis points, with roughly 90 basis points of tightening through 2027. Analysts at MUFG raised their Q3 growth forecast to 0.4% from 0.1% due to improved growth prospects. The GBP/USD pair traded at 1.3240, holding below both the nine-period Exponential Moving Averages and the 14-day RSI near 35, indicating lingering downside pressure. The Fed speech on Wednesday scored 9.2/10 on the FXS Speechtracker, signaling hawkishness. With stronger economic expansion, a balanced labor market, and a commitment to price stability, the Dollar is likely to benefit from more aggressive Fed action, while the Pound Sterling faces headwinds.",
  "summary": "GBP/USD inches lower after posting modest gains in the previous day, trading around 1.3240 during Asian hours on Monday. The currency pair is under downward pressure as the US Dollar (USD) gains strength ahead of the upcoming US ISM Services Purchasing Managers Index release.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 6,
    "also_reported_by": [
      {
        "outlet": "The Economic Times - Top News",
        "title": "Global Market Today: Asian shares rise as Fed hike bets ease, oil gains",
        "url": "https://urgent.news/2026/10/05/global-market-today-asian-shares-rise-as-fed-hike-bets-ease-oil-gains",
        "published": "2026-10-05T00:54:30.000Z"
      },
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Japan stocks gain, Asian shares rise as Fed hike bets ease, oil gains",
        "url": "https://urgent.news/2026/10/05/japan-stocks-gain-asian-shares-rise-as-fed-hike-bets-ease-oil-gains",
        "published": "2026-10-05T01:09:36.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Stocks upbeat as Fed rate hike bets recede",
        "url": "https://urgent.news/2026/10/05/stocks-upbeat-as-fed-rate-hike-bets-recede",
        "published": "2026-10-05T02:07:02.000Z"
      },
      {
        "outlet": "FXStreet",
        "title": "Gold holds gains above $4,150 as traders trim bets on Fed rate hikes",
        "url": "https://urgent.news/2026/10/05/gold-holds-gains-above-4-150-as-traders-trim-bets-on-fed-rate-hikes",
        "published": "2026-10-05T02:13:30.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Asian stocks rise as weak U.S. jobs data eases Fed hike bets; Japan surges",
        "url": "https://urgent.news/2026/10/05/asian-stocks-rise-as-weak-u-s-jobs-data-eases-fed-hike-bets-japan",
        "published": "2026-10-05T02:36:29.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}