GBP/USD regains above the mid-1.2700s ahead of US NFP data
The GBP/USD pair regains above the 1.2700 mark during the early Asian session on Friday. The Bank of England (BoE) decided to keep the interest rate steady at 5.25% at its January meeting on Thursday, citing the need to see more evidence that inflation would continue falling. Investors await the US Nonfarm Payrolls (NFP) on Friday for fresh impetus. The major pair currently trades around 1.2745, losing 0.01% for the day.
The US Federal Reserve (Fed) indicated that the central bank will delay rate cuts until it sees more evidence that inflation is sustainably under control. Fed Chair Jay Powell said on Wednesday that rate cuts in the March meeting were not the central bank's "base case.” Read more...
GBP/USD Price Analysis: Pauses the post-BoE rally near mid-1.2700s ahead of US NFP
The GBP/USD pair struggles to capitalize on the previous day's solid recovery of around 130 pips from the 1.2625 area, or over a two-week low and oscillates in a narrow band during the Asian session on Friday. Spot prices currently trade near mid-1.2700s, closer to the weekly peak, as traders look to the US monthly jobs report before placing fresh bets. Read more...
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