Pound Sterling Price News and Forecast: GBP/USD reached a two-month high at 1.2674 as the US Dollar struggled
|GBP/USD remains above 1.2650 near two-month highs
GBP/USD edged lower after hitting a two-month high of 1.2674 on Friday, trading around 1.2670 at the time of writing during the Asian session. However, the pair gained ground as the US Dollar (USD) struggled amid weak jobless claims data and mixed signals from the Federal Reserve (Fed).
US Initial Jobless Claims for the week ending February 14 increased to 219,000, surpassing the expected 215,000. Continuing Jobless Claims also rose slightly to 1.869 million, just under the forecast of 1.87 million. Read more...
GBP/USD rises above 1.2600 on weak US jobs data
The Pound Sterling (GBP) climbs against the US Dollar (USD) and crosses the 1.2600 figure on Thursday, with traders awaiting the release of United Kingdom (UK) Retail Sales data. Meanwhile, a soft United States (US) jobs report weakened the US Dollar. The GBP/USD pair trades at 1.2616, up 0.25%.
The Cable failed to rally on Wednesday as inflation rose above 3% in January, weakening the case for further interest rate cuts by the Bank of England (BoE). Meanwhile, US President Donald Trump's tariffs rhetoric continues. Read more...
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