Pound Sterling recovers amid solid US economic data, Fed comments

The Pound Sterling registered solid gains on Tuesday after diving to a one-month low of 1.2539 on Monday as European financial markets were shut off due to a holiday. At the time of writing, the GBP/USD trades at 1.2573, a gain of 0.18%. Read More…

The Pound Sterling (GBP) finds support near a six-week low around 1.2540 in Tuesday’s early American session after the S&P Global/CIPS reported an upbeat Manufacturing PMI for March. The United Kingdom’s Manufacturing PMI returns to expansion, landing above the 50.0 threshold that separates expansion from contraction at 50.3, higher than expectations and the former reading of 49.9. Read More…

The GBP/USD pair remains on the defensive around 1.2545 during the early Asian session on Tuesday. The US Dollar Index (DXY) rises above the 105.00 mark, and the US Treasury bond yields edges higher sharply overnight following the upbeat US ISM data, which creates a headwind for the GBP/USD pair. Read More…