Pound Sterling Price News and Forecast: GBP/USD rises above 1.2800 amid weak US data fueling rate cut hopes
GBP/USD Price Analysis: Rises above 1.2800 amid weak US data fueling rate cut hopes
The Pound Sterling rallied sharply against the US Dollar after recent economic data from the United States (US) sparked speculation that the US Federal Reserve might cut interest rates faster than expected. The GBP/USD trades at 1.2833 after hitting a daily low of 1.2707. Read More…
GBP/USD bounces back strongly above 1.2800 as US NFP disappoints
The GBP/USD pair recovers at a strong pace from an intraday low of 1.2707 above the round-level resistance of 1.2800 in Friday’s New York session. The Cable discovers strong buying interest on disappointing United States (US) Nonfarm Payrolls (NFP) data for July, which boosts already firm speculation of Federal Reserve (Fed) September interest rate cuts. Read More…
GBP/USD depreciates toward 1.2700 due to increased risk-off mood, BoE rate cut
GBP/USD extends its losses following the Bank of England‘s (BoE) decision to deliver a broadly expected 25-basis point rate cut at its August meeting held on Thursday. The GBP/USD pair trades around 1.2720 during the Asian session on Friday. Read More…
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