GBP/USD gains on positive economic signals from BoE officials

GBP/USD climbs amid optimistic BoE’s UK economic outlook

The Pound Sterling rose against the US Dollar in the mid-North American session as US traders got back to their offices. Reasons like the Bank of England (BoE) Governor Andrew Bailey stating that Britain’s economy could fare better than expected propelled the GBP/USD pair up. At the time of writing, the major exchanges hands at 1.2643, up 0.40%.

UK’s economic calendar featured BoE speakers. BoE’s Michael Broadbent said the question has moved on from the degree of policy restrictiveness to its duration. He added that more persistent components of inflation “may have peaked” while not ruling out policy easing at some time. Read more…

Pound Sterling rises swiftly as BoE Bailey refuses to provide timing for rate cuts

The Pound Sterling (GBP) rises against the US Dollar in Tuesday’s European session as the market sentiment turned upbeat ahead of the release of the Federal Reserve Open Market Committee (FOMC) minutes, providing a fresh outlook on interest rates.

Apart from that, fresh guidance on interest rates from Bank of England (BoE) Governor Andrew Bailey and other policymakers in their testimony before the United Kingdom Parliament has provided an interim cushion the Pound Sterling. Read more…