GBP/USD falls to near 1.2750 ahead of BoE Mann speech
GBP/USD extends its losing streak for the fourth successive session, trading around 1.2740 during the Asian hours on Wednesday. This downside of the pair is attributed to a stronger US Dollar (USD) amid optimism around the Trump trades.
The US Dollar strengthens as analysts pointed out that if Trump’s fiscal policies are implemented, they could boost investment, spending, and labor demand, potentially increasing inflation risks. This scenario could prompt the Federal Reserve (Fed) to adopt a more restrictive monetary policy stance. Read more...
GBP/USD tumbles lower as losses accelerate
GBP/USD lost its footing on Tuesday, shedding almost a full percent after UK labor figures came in mixed, but all Cable traders could focus on was a steeper-than-expected upswing in the UK Unemployment Rate. Outside of the UK, a broad-market bullish recovery in Greenback flows is keeping the USD well-bid, exacerbating intraday losses for Cable.
UK labor figures mostly exceeded expectations, but wages growth keeps inflation concerns elevated. While unemployment claims were below forecasts, jobless benefits seeker counts still rose compared to the previous month’s revised figure. Read more...
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