GBP/USD rallied sharply after briefly edging towards its daily low of 1.2725, but soft data from the United States (US) weighed on the US Dollar (USD), opening the door for a GBP late bounce. At the time of writing, the GBP/USD is past the 1.2800 figure, trading at 1.2845, and gains 0.83%. Read More…
Pound Sterling has jumped to near the round-level resistance of 1.2800 despite the impact of higher interest rates by the Bank of England (BoE) has put a heavy burden on United Kingdom households. The GBP/USD pair has picked immense strength as the United States Nonfarm Payrolls (NFP) have missed expectations. The US economy added 209K fresh jobs in June while the street was anticipating the fresh addition of 225K. Last month, Employment additions were 306K. Read More…
Further range bound is likely in GBP/USD for the time being, comment UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Read More…
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