Pound Sterling Price News and Forecast: GBP/USD extends rebound above 1.3550
|GBP/USD Forecast: British pound to struggle to rebound as Brexit tensions escalate
GBP/USD has failed to break above 1.3500 on Friday and started the new week on the back foot amid renewed Brexit tensions following the Bank of England's (BoE) dovish surprise. Unless the pair manages to make a daily close above 1.3500, recovery attempts are likely to remain limited in the near term with fundamental drivers staying bearish. Read more...
BoE's Gov Bailey: Will have to act with rates if we see evidence of higher inflation expectations feeding into wages
The Bank of England's governor, Andrew Bailey, has stated in recent trade that the Old Lady will have to act with rates if there is evidence of higher inflation expectations feeding into wages. Bailey is essentially echoing his recent message about the direction of monetary policy which last week led to a jolt in financial markets. Read more...
GBP/USD extends rebound above 1.3550
The GBP/USD pair is recovering on Monday after falling last week to 1.3423, the lowest level in a month and slightly above the YTD low. During the American session, cable rose to 1.3578, reaching a fresh intraday high. It is hovering around 1.3550, up more than 70 pips for the day. The recovery in GBP/USD is being driven by a weaker US dollar across the board. The greenback is retreating after last week rally, continuing the move that started on Friday after the NFP. Read more...
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