The GBP/USD fell back once more on Monday, testing 1.2715 after a short-lived rally at the Modnay open reversed course. The Pound Sterling (GBP) couldn’t get over 1.2765 against the US Dollar (USD), sliding 0.4% peak-to-trough before consolidating in holiday-thinned market volumes during the US extended weekend in observance of Martin Luther King Day. Read More…
The Pound Sterling (GBP) faces sell-off ahead of the United Kingdom labor market data for three-months ending November, which will be published on Tuesday. Investors are anticipating a sharp decline in the wage growth and see labor market conditions cooling further due to higher interest rates by the Bank of England (BoE) and deepening cost-of-living crisis amid stubborn consumer inflation. Read More…
The GBP/USD treads water near 1.2760 during the European session on Monday, recovering intraday losses as the US Dollar (USD) loses ground on the weaker US bond yields, coupled with the softer Producer Price Index (PPI) data from United States (US). The heightened tension in the Middle East has balanced the risk-on sentiment, particularly following military attacks on Iran-led Houthi targets, conducted by the United States (US) and the United Kingdom (UK) on Friday. This geopolitical development has influenced both the USD’s strength and the overall sentiment in the GBP/USD pair. Read More…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-softens-towards-12700-ahead-of-tuesdays-ukj-labor-figures-202401151957