GBP/USD tanks below 1.2600 after US NFP and ISM PMIs data
The Pound Sterling (GBP) slumped late in the New York session versus the Greenback (USD) as US Treasury bond yields rose and bolstered the USD, which is set to print its seven consecutive week printing gains. The GBP/USD hit a daily high of 1.2712 before reversing its course and diving toward the current exchange rate, trading at around 1.2590s. Read More...
Pound Sterling nosedives as hawkish BoE bets threaten economic outlook
The Pound Sterling (GBP) weakens as market sentiment turns bearish and investors see a higher interest rate peak from the Bank of England (BoE). The GBP/USD discovered selling interest as BoE policymakers, including Deputy Governor Ben Broadbent and Chief Economist Huw Pill, warned that sufficiently restrictive policy needs to be maintained longer to bring down the core Consumer Price Index (CPI) to the desired rate of 2%. Also, a strong recovery in the US Dollar Index after US NFP and Manufacturing PMI reports have built selling pressure on the GBP/USD pair. Read More...
GBP/USD treads waters toward 1.2700, focus on US employment data
GBP/USD struggles to recover from the previous day’s losses, hovering around 1.2680 during the Asian session on Friday. The pair is under pressure ahead of the releases of employment and manufacturing data from the United States (US). Read More...
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EUR/USD holds steady above 1.0800, looks to post weekly losses
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GBP/USD extends recovery to 1.3000 area
GBP/USD extends its recovery and trades at around 1.3000 in the American session on Friday. The US Dollar struggles to gather strength as the market mood remains positive heading into the weekend, allowing the pair to hold its ground.
Gold fluctuates in narrow range below $2,750
Gold stays in a consolidation phase and fluctuates in a relatively tight range below $2,750 on Friday. US Treasury bond yields stabilize in the American session, making it difficult for XAU/USD to gather directional momentum.
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