GBP/USD trades with modest gains below the mid-1.2600s ahead of UK, US PMI data
The GBP/USD pair trades stronger below the mid-1.2600s during the early Asian section on Thursday. Investors will turn their attention to the UK and UK S&P Global Purchasing Managers Index (PMI) for February. The major pair currently trades around 1.2638, gaining 0.04% on the day.
The minutes of the January meeting of the FOMC showed most participants emphasized the risks of moving too quickly to ease the stance of monetary policy, while some participants noted the risk that progress toward price stability could stall. The FOMC policymaker highlighted the importance of carefully assessing incoming data in judging whether inflation is moving down sustainably to the 2% target. Read more…
Pound Sterling rebounds while US Dollar comes under pressure ahead of FOMC minutes
The Pound Sterling (GBP) eyes recovery in Wednesday’s early New York session ahead of the Federal Open Market Committee (FOMC) minutes. The GBP/USD pair rebounds, even though Bank of England (BoE) policymaker Swati Dhingra warns about the downside risks of restrictive interest rates to the United Kingdom’s living standard. When asked about the inflation outlook, Dhingra said the headline inflation appears bumpy but moves downward.
On Tuesday, BoE Governor Andrew Bailey and other policymakers were slightly dovish while speaking before UK lawmakers at the UK Parliamentary Treasury Select Committee. Read more…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-edges-higher-to-12638-amid-the-modest-decline-of-the-usd-202402220500