News
GBP/USD experienced losses due to US moderate economic data. Investors turn cautious around BoE’s policy decision and the UK’s gloomy economic situation. UK’s FCA stated that British savings account holders can take advantage
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).
The GBP/USD lost ground due to the moderate US data released on Thursday. The US Dollar Index (DXY) trades higher around 103.60 at the time of writing. As said, the US Core PCE improved to 4.2% in July as expected, from its previous 4.1%. In addition, US Jobless Claims for the week ending on August 25 showed a reading of 228K against the market consensus of 235K and the previous 232K and indicated that the labor market is still resilient.
The pair faced downward pressure despite hawkish sentiment around a 25 basis points (bps) interest rate hike, following the BoE Chief Economist Huw Pill’s hawkish statement made on Thursday.
Vent News Editorial Past A Comment
PBOC sets USD/CNY reference rate at 7.1788 vs. 7.1811 previous
USD/MXN Price Analysis: Mexican Peso rebound needs validation from 16.87 and US NFPGBP/USD treads waters toward 1.2700, focus on US employment dataAUD/USD flat-lines below 0.6500 mark, reacts little to slightly better China PMIUSD/CNH slides to three-week low around 7.2400 on PBoC RRR cut, upbeat China PMI, focus on US NFP
