The GBP/USD slipped further on Friday, seeing a mild intraday rebound into 1.2222 before slumping back into fresh lows for the week and tapping 1.2122. With broader markets favoring the US Dollar (USD) on risk aversion sparked by Federal Reserve (Fed) rate fears, the Pound Sterling (GBP) is struggling to find a bid heading into Friday’s market close. Read More…
The Pound Sterling (GBP) dropped from a two-week high as the United Kingdom’s economic outlook weakened after factory output contracted for the second consecutive month. The GBP/USD pair surrendered the majority of recent gains as data from the US showed inflation remains persistent, denting the risk appetite of market participants. UK’s manufacturing and overall Industrial Production dropped in August as firms cut spending on labor and inventory due to a poor demand outlook. Read More…
GBP/USD retraces the recent losses that were registered on Thursday, trading higher around the 1.2200 psychological level. However, the pair faced challenges due to the optimistic economic data from the United States (US). Read More…
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