Pound Sterling Price News and Forecast: GBP/USD extends the previous session’s gains on Thursday
|GBP/USD keeps an eye for 1.3700 amid USD weakness
The GBP/USD pair extends gains on Thursday. The pair touched a high of 1.3667 in the previous session composed of nearly 100-pips movement. At the time of writing, GBP/USD is trading at 1.3667, up 0.03% for the day. The US benchmark 10-year Treasury yields recovered to trade at 1.58% before falling to 1.54% on Wednesday following the higher September inflation data and FOMC minutes.
Sterling gaining ground as UK growth rebounds
Rising UK growth and output in August has helped drive GBP outperformance. Meanwhile, commodity stocks remain a major focus, with nuclear a potential solution as a lack of fossil fuel investments bring near-term shortfalls and rising prices. A mixed affair for European markets this morning, with the FTSE 100 lagging its mainland counterparts as commodity stocks head lower.
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