GBP/USD Forecast: Pound Sterling stays below key resistance levels
GBP/USD declined below 1.2600 on Thursday but managed to stabilize above that level early Friday. In the absence of high-tier data releases, the risk perception could impact the US Dollar’s (USD) valuation.
The USD benefited from recovering US Treasury bond yields on Thursday and weighed on GBP/USD. Hawkish remarks from Bank of England (BoE) officials and the modest improvement seen in risk mood, however, helped the pair erase its losses. Read more…
Pound Sterling remains steady as focus shifts to UK Employment, inflation data
The Pound Sterling (GBP) is back in its old range after a mild correction during Friday’s European session. The downside for the Pound Sterling seems cushioned as Bank of England (BoE) policymaker Catherine Mann delivers hawkish guidance on interest rates.
On Thursday, Catherine Mann maintained a hawkish stance as risks to inflation shocks have leaned on the upside due to the deepening Red Sea crisis. The Pound Sterling tends to attract higher foreign inflows if the BoE keeps interest rates restrictive for longer. Read more…
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