Pound Sterling Price News and Forecast: GBP/USD struggling around 1.3900
|GBP/USD plummets on Fed's Powell, weekly structure back in fucus
The US dollar is on the rise as US rates continue to move higher after the Federal Reserve chair, Jerome Powell declines to jawbone or pushback on the recent moves in the bond markets. “We monitor a broad range of financial conditions and we think that we are a long way from our goals,” he said.
GBP/USD Forecast: Dollar bulls taking over
The British Pound was among the best performers against the greenback, surging above the 1.4000 level for the first time this week. UK data was encouraging, as the February Markit Construction PMI jumped to 53.3, better than anticipated. However, an unexpected boost came from soaring oil prices, which reached one-year highs following headlines indicating that the OPEC+ is reportedly close to agreeing to leave output unchanged in April.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.