GBP/USD trades in a narrow range

Pound Sterling climbs higher as economists remain gung-ho over UK’s economic outlook

The Pound Sterling (GBP) jumps higher in Friday’s early American session as the United Kingdom’s economic outlook strengthens. The GBP/USD pair advances toward Thursday’s high as market sentiment improves.

Meanwhile, investors await fresh guidance on Bank of England (BoE) interest rates. While uncertainty over the timing of BoE rate cuts continues to persist, investors hope that the central bank could reduce interest rates in the early part of the second half of this year. The chances for a rate cut in the June policy meeting are under 50%, while a dovish decision for August seems inevitable. Read more…

Outlook brightens for Pound Sterling – MUFG

GBP/USD advanced above 1.2700 for the first time in three weeks on Thursday. Economists at MUFG Bank analyze the Pound Sterling (GBP) outlook. Read more…