The GBP/USD pair holds positive ground near 1.2520 on Monday during the early Asian session.
GBP/USD tradeson a positive notearound 1.2520 amid weaker USD on Monday. The recent US PCE inflation data dialed back their expectation of when the Federal Reserve will start cutting interestrates. Investors increased their bets that the BoE will start cutting rates in June. The uptick of themajorpairis supportedby the softer US Dollar below the 106.00 psychological mark.Investors will closely monitor the Federal Open Market Committee interest rate decision and Press Conferenceon Wednesday.
Thehigher-for-longer stance from the US central bank might provide some support tothe Greenback and cap the downside of the GBP/USD pair. On the other hand, investors raise their bets that the Bank of England will start lowering borrowing costs in its June meeting. The BoE Governor Andrew Bailey said during the press conference after the last monetary policy meeting that two or three rate cuts this year are not unreasonable.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD plummets below 1.2500 as US Dollar dominates due to faded Fed rate cut prospectsThe GBP/USD pair dips below the psychological support of 1.2500 in Friday’s London session.
Read more »
GBP/USD rises amid US Dollar weakness, mixed Fed messagesThe Pound Sterling posted solid gains against the Greenback on Wednesday after bouncing from a seven-week low of 1.2539 on Tuesday.
Read more »
GBP/USD Forecast: Pound Sterling suffers from renewed US Dollar strengthThe Pound Sterling (GBP) failed to sustain the bounce against the US Dollar (USD), as the GBP/USD pair lost upside momentum once again when it tried to reach 1.2700.
Read more »
US Dollar’s Outlook Rides on US Inflation Data - EUR/USD, USD/JPY, GBP/USDThe U.S. dollar lost ground this past week, but the tide could turn back in its favor in the coming days, especially if Wednesday's U.S. inflation report surprises to the upside and triggers a hawkish repricing of interest rate expectations.
Read more »
GBP/USD remains on the defensive below 1.2550 amid firmer US Dollar, upbeat US PMI dataThe GBP/USD pair remains on the defensive around 1.2545 during the early Asian session on Tuesday.
Read more »
GBP/USD Weekly: Pound Sterling weakens further as Middle-East tensions, inflation lift US DollarThe Pound Sterling (GBP) resumed its downside against the US Dollar (USD), sending the GBP/USD pair to the lowest level in four months below 1.2500.
Read more »