GBP/USD suffers amid strong US Dollar, high US yields
The GBP/USD slumped more than 0.40% in the mid-North American session amid a strong US Dollar (USD) and high US Treasury bond yields underpinning the Greenback to the detriment of the Pound Sterling (GBP). At the time of writing, the major exchanges hands at 1.2657 after hitting a daily high of 1.2747. Read More...
GBP/USD builds on expectation as BoE to maintain restrictive policy, trades near 1.2740
GBP/USD moves on an upward trajectory for the second successive session on Tuesday, inching higher to near 1.2740 during the Asian trading hours. The Bank of England (BoE) is expected to maintain its current restrictive policy stance in the upcoming meeting. This sentiment is supported by a Reuters poll in which economists anticipate the Bank of England to keep the policy rate unchanged at 5.25% during the February meeting. The expectations of a status quo in monetary policy contribute to the positive performance of the Pound Sterling (GBP), which in turn, underpins the GBP/USD pair. Read More...
GBP/USD holds above 1.2700 ahead of UK, US PMI data
The GBP/USD pair holds above the 1.2700 psychological mark during the early Asian session on Tuesday. The rebound of the major pair is supported by an improved risk appetite. Investors will keep an eye on the preliminary UK S&P Global PMI for January on Wednesday, which is expected to remain upbeat. At press time, GBP/USD is trading at 1.2713, gaining 0.04% on the day. Read More...
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