GBP/USD is being pressured to the downside in lunchtime NY trade and is taking on a support structure that could lead the way to a move into test the 1.2020s and lower for the remainder of the day. Read More…
The Pound Sterling (GBP) recovers to the mid-1.26s against the US Dollar (USD) undoing all the damage done by the US Nonfarm Payrolls (NFP) release on Friday. The US Bureau of Labour Statistics reported that 253K new jobs had been added to the economy in April, against expectations of 179K. Average Hourly Earnings also rose, hitting 4.4% versus 4.2% forecast and 4.3% previous, suggesting persistent inflationary pressures. Read More…
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The GBP/USD pair drops to a fresh daily low in reaction to the better-than-expected US monthly employment details, albeit manages to find some support ahead of the mid-1.2500s. Spot prices bounce back to the 1.2585-1.2590 region during the early North American session and trade with a mild positive bias for the third straight day, just below a nearly one-year high touched earlier today. Read More…
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