The Pound Sterling (GBP) clings to gains near 1.2500 against US Dollar (USD) in Friday’s London session.
The Pound Sterling remains upbeat against the US Dollar ahead of the US core PCE Price Index data. Weak US Q1 GDP data has kept the US Dollar on the back foot. The UK service sector’s upbeat outlook has increased fears of persistent inflation. The Pound Sterling clings to gains near 1.2500 against US Dollar in Friday’s London session.
Investors will keenly focus on the Fed’s guidance for interest rates. Technical Analysis: Pound Sterling hovers near 1.2500 The Pound Sterling trades near Thursday’s high at around 1.2500 against the US Dollar. The GBP/USD pair struggles to extend the upside above the 20-day Exponential Moving Average , which trades around 1.2510. The 14-period Relative Strength Index rebounds above 40.00, suggesting that a bearish momentum might have concluded for now.
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.
Pound Sterling remains vulnerable as UK shop price inflation softens furtherThe Pound Sterling (GBP) trades in a narrow range near a six-week low around 1.2540 in Tuesday’s London session.
Read more »
Pound Sterling oscillates above 1.2660 as focus shifts to US inflation dataThe Pound Sterling (GBP) is stuck in a tight range around 1.2660 against the US Dollar in Tuesday’s London session.
Read more »
Pound Sterling Uncertain Ahead of US Inflation DataThe Pound Sterling shows uncertainty as it corrects from 1.2700 and awaits US inflation data for March. UK monthly GDP data for February will also provide insights into the economy's performance. Rising cost-of-living crisis in the UK supports potential rate cuts by the Bank of England.
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 »
Forex Today: UK inflation data support Pound Sterling, US Dollar consolidates before FedspeakHere is what you need to know on Wednesday, April 17: The US Dollar holds steady against its major rivals after ending Tuesday on a bullish note.
Read more »
Pound Sterling Latest: BoE Inflation Nod Hampers GBP RecoveryThe pound struggles to recover against the dollar after fairly mixed data this week was met with a dovish inflation assessment by Andrew Bailey
Read more »