GBP/USD climbed into the 1.2700 handle on Monday before falling back, paring away some of the day’s gains but hitting the rollover higher than it started.
The UK sees only a thin showing on the economic calendar this week, and another US Nonfarm Payrolls (NFP) labor print on Friday sees investors gearing up for another kick at the can on how soon the Federal Reserve (Fed) will begin cutting interest rates. Read More…
The Pound Sterling (GBP) clings to gains, trading around 1.2670 on Monday’s early American session as investors price in that the Bank of England (BoE) won’t lower interest rates anytime soon. The United Kingdom’s (UK) inflation rate remains the highest in the Group of Seven economies (G-7), forcing BoE policymakers to hold interest rates in the restrictive territory for a longer period. Read More…
The GBP/USD pair builds on Friday’s goodish rebound from the 1.2600 round figure, or a one-and-half-week trough and gains some positive traction for the second successive day on Monday. The momentum lifts spot prices to a multi-day peak, around the 1.2660-1.2665 area during the Asian session and is sponsored by a combination of factors. Read More…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-grapples-with-12700-handle-202403042236