GBP/USD holds to decent gains after BoE’s Bailey remarks
GBP/USD climbed above the 1.2600 figure during the early morning in the North American session after bouncing from daily lows of 1.2590 due to data portraying the UK economy’s resilience despite the Bank of England’s (BoE) tightening. The pair is trading at 1.2607, clinging to 0.10% gains at the time of writing.
US equities are trading in the red amidst the market’s narrative that stocks are in overbought territory. Also, a weaker-than-expected Industrial Profits report from China weighed on market sentiment as deflationary pressures persisted. Read more…
GBP could strengthen further in the near-term – MUFG
The GBP strengthened modesty over the past week against both the EUR and USD. Economists at MUFG Bank analyze Sterling’s outlook. Read more…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-stays-in-green-territory-though-under-pressure-202311272249