- GBP/USD remains muted on Tuesday in the Asian session.
- Hawkish BOE surprise keeps sterling off the lower levels, UK job data eyed.
- A downtick in US Treasury yields keeps US dollar gains in check.
GBP/USD extends the previous day’s sluggish momentum and trades quietly on Tuesday morning. After testing the high of 1.3888 on Friday, the pair continued to remain submissive near 1.3850.
At the time of writing, GBP/USD is trading at 1.3843, up 0.05% for the day.
The sterling has been influenced by a combination of other factors ranging from risk appetite to covid and Brexit headlines, despite the surprise call from the Bank of England (BOE). As per a Reuters poll, BOE will raise borrowing costs by the end of 2022, much before the early expectations and even sooner than the mentioned timeline backed by solid economic recovery and high inflation around the corner.
The gains were limited after the UK Brexit Minster Lord Frost warned the European Commission on the suspension of the Northern Ireland (NI) protocol if they do not take renegotiation proposals seriously.
Meanwhile, traders wait for the UK Unemployment data to gauge the labor market conditions, which could influence the BOE rate hike decision. Apart from that, Claimant Count Change, US Inflation rate also catches market attention.
The US Dollar Index (DXY), which tracks the greenback performance against the basket of currencies, turns mildly lower below 92.60 ahead of the US inflation rate, which is helping GBP/USD find footing in the Asian session.
GBP/USD additional levels
|Today last price||1.3842|
|Today Daily Change||0.0002|
|Today Daily Change %||0.01|
|Today daily open||1.384|
|Previous Daily High||1.3851|
|Previous Daily Low||1.3797|
|Previous Weekly High||1.3889|
|Previous Weekly Low||1.3726|
|Previous Monthly High||1.3958|
|Previous Monthly Low||1.3602|
|Daily Fibonacci 38.2%||1.3831|
|Daily Fibonacci 61.8%||1.3818|
|Daily Pivot Point S1||1.3808|
|Daily Pivot Point S2||1.3776|
|Daily Pivot Point S3||1.3754|
|Daily Pivot Point R1||1.3862|
|Daily Pivot Point R2||1.3884|
|Daily Pivot Point R3||1.3916|
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.