Pound Sterling posts fresh weekly high on lower UK jobless rate and soft US PPI
The Pound Sterling (GBP) jumps above 1.2800 against the US Dollar (USD) in Tuesday’s North American trading hours. The GBP/USD pair posts a fresh weekly high above 1.2800 as the US Dollar (USD) slides after the release of the softer-than-expected United States (US) Producer Price Index (PPI) data for July and United Kingdom (UK) Unemployment Rate surprisingly fall in three-months ending June. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, drops vertically below the crucial support of 103.00. Read More...
GBP/USD maintains its bid tone around 1.2775-1.2780 region ahead of UK jobs data
The GBP/USD pair attracts some dip-buyers during the Asian session on Tuesday and climbs to a fresh daily peak, around the 1.2775-1.2780 region in the last hour. Spot prices, however, remain confined in the previous day's broader trading range as traders keenly await important macro data from the UK and the US before placing fresh directional bets. Read More...
GBP/USD flattens as markets await key midweek data
GBP/USD continued to flatten out on Monday, trading in place and testing key technical levels as markets buckle down for the wait to a midweek inflation data outing. Recent volatility that saw Cable drop back to long-run averages below 1.2700 have eased into the background for now, and investors will be pivoting to face a round of key inflation prints on both sides of the Atlantic due in the midweek. Read More...
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