Late in the New York session, the Pound Sterling (GBP) continued to hold its ground against the US Dollar (USD) after UK’s economy grew more than expected, despite US elevated inflation on the producer side. Hence, the GBP/USD trades at 1.2697, gaining 0.16%. Read More…
The Pound Sterling (GBP) seems to be grabbing a Currency of the Week tag as the United Kingdom’s factory data for June and the April-June Gross Domestic Product (GDP) grew stronger than expectations. The GBP/USD pair fails to maintain recovery as market sentiment turns sour on stronger-than-anticipated United States Producer Price Index (PPI) data. Read More…
GBP/USD stays defensive beyond an 11-week-old rising support line, making rounds to 1.2680-90 heading into Friday’s London open. In doing so, the Cable pair justifies the market’s cautious mood of the first readings of the UK’s second quarter (Q2) Gross Domestic Product (GDP), expected 0.0% QoQ versus 0.1% prior, especially amid fears of British recession. However, the US Dollar’s retreat prods the Pound Sterling sellers of late. Read More…
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