GBP/USD rallies sharply on Tuesday after an inflation report from the United States (US) increased the chances the Federal Reserve (Fed) is done raising interest rates, while data from the UK was mixed. The major trades at around 1.2480s and climb more than 1.70%, with buyers eyeing the 1.2500 figure. Read More…
The Pound Sterling (GBP) extended its upside on Tuesday after mixed UK labor market data, which pointed to wages rising faster than expected but also to lower employment levels. UK employers shed jobs in three months to September, posting a third straight decline in employment as firms reduce costs amid the decline in new business. The Unemployment Rate remained unchanged at 4.2%, while wage growth outperformed expectations. Read More…
UOB Group’s Markets Strategist Quek Ser Leang and Economist Lee Sue Ann note further consolidation lies ahead for GBP/USD in the next few weeks. Read More…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-surges-towards-12480s-amid-us-inflation-report-mixed-uk-data-202311141903