GBP/USD steadies below 1.3400 after strong UK data

The Pound Sterling held to gains against the Greenback during the North American session and edged up 0.14%. Earlier, solid Gross Domestic Product (GDP) figures in the UK sponsored a leg-up above 1.3400, but bulls failed to hold the exchange rate above the latter. The GBP/USD trades at 1.3387. Read More…

The Pound Sterling (GBP) surrenders some of its gains after facing selling pressure above the round-level resistance of 1.3400 against the US Dollar (USD) in Monday’s New York session. The GBP/USD pair gives up little gains as the Greenback rebounds after falling to near yearly lows, with the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, rebounding from the key support of 100.20. Earlier, the US Dollar weakened after data released on Friday showed that US inflation decelerated further in August. Read More…

The GBP/USD pair holds positive ground near 1.3385 during the early Asian session on Monday. Expectations of further interest rate cuts by the Federal Reserve (Fed) and the less dovish stance of the Bank of England’s (BoE) less dovish rate cut bets provide some support to the major pair. Fed Governor Michelle Bowman is scheduled to speak later on Monday. Read More…