The post GBP/USD trades below 1.3100 amid firmer USD, UK budget in focus appeared on BitcoinEthereumNews.com. The GBP/USD pair struggles to capitalize on its gains registered over the past two days and kicks off the new week on a softer note amid a broadly firmer US Dollar (USD). Spot prices, however, manage to hold comfortably above last week’s swing low and currently trade just below the 1.3100 mark, down less than 0.15% for the day. The USD Index (DXY), which tracks the Greenback against a basket of currencies, sits near its highest level since late May amid less dovish Federal Reserve (Fed) expectations. In fact, chances for another rate cut by the US central bank in December reduced further following the delayed release of mostly upbeat US Nonfarm Payrolls (NFP) report for September. This offset concerns about the weakening economic momentum on the back of the longest-ever US government shutdown and continues to underpin the USD, and weighs on the GBP/USD pair. The British Pound (GBP), on the other hand, continues with its relative underperformance amid the uncertainty surrounding the upcoming UK budget and rising bets for an interest rate cut by the Bank of England (BoE) next month. This, in turn, is seen as a key factor acting as a headwind for the GBP/USD pair. Traders, however, seem reluctant to place aggressive directional bets and opt to wait for the UK Chancellor Rachel Reeves’ Autumn Budget on Wednesday. Apart from this, important US macro data will play a key role in providing a fresh impetus. A rather busy US economic docket this week features the delayed release of the Producer Price Index (PPI) and Retail Sales data, along with the Conference Board’s Consumer Confidence Index on Tuesday. This will be followed by the preliminary Q3 GDP print and the Personal Consumption Expenditure (PCE) Price Index report on Wednesday. The latter would offer more cues about… The post GBP/USD trades below 1.3100 amid firmer USD, UK budget in focus appeared on BitcoinEthereumNews.com. The GBP/USD pair struggles to capitalize on its gains registered over the past two days and kicks off the new week on a softer note amid a broadly firmer US Dollar (USD). Spot prices, however, manage to hold comfortably above last week’s swing low and currently trade just below the 1.3100 mark, down less than 0.15% for the day. The USD Index (DXY), which tracks the Greenback against a basket of currencies, sits near its highest level since late May amid less dovish Federal Reserve (Fed) expectations. In fact, chances for another rate cut by the US central bank in December reduced further following the delayed release of mostly upbeat US Nonfarm Payrolls (NFP) report for September. This offset concerns about the weakening economic momentum on the back of the longest-ever US government shutdown and continues to underpin the USD, and weighs on the GBP/USD pair. The British Pound (GBP), on the other hand, continues with its relative underperformance amid the uncertainty surrounding the upcoming UK budget and rising bets for an interest rate cut by the Bank of England (BoE) next month. This, in turn, is seen as a key factor acting as a headwind for the GBP/USD pair. Traders, however, seem reluctant to place aggressive directional bets and opt to wait for the UK Chancellor Rachel Reeves’ Autumn Budget on Wednesday. Apart from this, important US macro data will play a key role in providing a fresh impetus. A rather busy US economic docket this week features the delayed release of the Producer Price Index (PPI) and Retail Sales data, along with the Conference Board’s Consumer Confidence Index on Tuesday. This will be followed by the preliminary Q3 GDP print and the Personal Consumption Expenditure (PCE) Price Index report on Wednesday. The latter would offer more cues about…

                                                                               BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate.                     BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more