Pound Sterling Price News and Forecast: GBP/USD needs a fresh catalyst
|GBP/USD fades recovery moves below 1.3600 as risks dwindle
GBP/USD stays depressed while easing to 1.3563 during the initial Asian session on Friday. The cable dropped for the second consecutive day before bouncing off 1.3532. However, the recovery cools down from 1.3577 off-late. Fundamentals suggest the coronavirus (COVID-19) outbreak keeps weighing on the Cable even as the US dollar trims the latest gains. Updates from the White House and the US Nonfarm Payrolls (NFP) are the key, not to forget the virus news.
GBP/USD Forecast: Pound needs a fresh catalyst
The GBP/USD pair ended the day in the red around 1.3570, undermined by renewed dollar’s demand and the absence of UK news that could provide the pound with directional impulse. The currency remained under pressure after the latest total lockdown imposed by the government spurred concerns about potential economic fallout. This Thursday, the UK reported 52,618 new coronavirus cases, the first time the figure dropped this week, although the death toll reached a record of 1,162.
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