GBP/USD consolidates above 1.3920 ahead of US NFP data
|- GBP/USD looks vulnerable on Friday in the initial Asian session.
- US Dollar Index stays firm above 92.30 on upbeat economic data.
- The sterling remains unaffected post- BOE meeting.
GBP/USD edges lower on Friday’s Asian trading session. The pair made a high near 1.3950 in the previous session but failed to holds the gains.
At the time of writing, GBP/USD is trading at 1.3929, up 0.01% for the day.
The US Dollar Index (DXY), which tracks the greenback performance against its six major rivals, trades above 92.30. The greenback gains as investors assessed Fed’s official’s hawkish comments.
US Fed Chair Richard Clarida said on Wednesday that interest rates hikes could be met in late 2021 or early 2022.
In addition to that, the US Initial Jobless Claims fell for the second week, the data came at 385k in line with market expectations.
On the other hand, the sterling remained unaffected after the initial reaction to the Bank of England (BOE) decision in its latest monetary policy meeting.
BOE kept its interest rates at a historic low of 0.1% and its bond-buying program unchanged despite expectations of a strong economic recovery in 2021. The policymakers raised its inflation forecast as widely expected by market experts.
As for now, investors await the US Nonfarm Payroll to take fresh trading impetus.
GBP/USD additional levels
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