Pound Sterling Price News and Forecast: GBP/USD clings to modest gains near 1.4065-70 area
|GBP/USD: Danger from variants to Britain's reopening and US data to drag cable down
GBP/USD has been attempting recovery as markets swing back to positive ground. However, virus variant concerns and the American shopper may push cable below 1.40, Yohay Elam, an Analyst at FXStreet, reports.
Prime Minister Boris Johnson has come short of suggesting a reversal in policy but he has expressed concerns about the rapid spread of the Indian variant in the UK. Various health officials have called on the government to reconsider its roadmap and take a more cautious approach. If these voices grow louder – and if COVID-19 cases rise – sterling could suffer. Read more...
GBP/USD clings to modest gains near 1.4065-70 area, US Retail Sales awaited
The GBP/USD pair traded with a positive bias through the first half of the European session, albeit lacked any follow-through buying. The pair was last seen hovering around the 1.4070-65 region, up over 0.10% for the day.
The pair regained positive traction on Friday and built on the overnight bounce from the key 1.4000 psychological mark amid the emergence of some fresh selling around the US dollar. Despite signs of rising inflation in the US, the Fed's stubbornly dovish stance failed to assist the USD to capitalize on this week's solid rebound from the lowest level since February 25. Read more...
GBP/USD refreshes session tops, awaits a move beyond 1.4100 mark post-US Retail Sales
The GBP/USD pair refreshed daily tops in reaction to weaker US Retail Sales figures, with bulls now awaiting a sustained move beyond the 1.4100 mark.
The pair managed to regain positive traction on the last trading day of the week and build on the overnight rebound from the key 1.4000 psychological mark. The uptick was exclusively sponsored by the emergence of some fresh selling around the US dollar, which was being weighed down by declining US Treasury bond yields amid dovish Fed expectations. Read more...
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