GBP/USD gains momentum, nears two-month highs, amid hawkish BoE comments
The GBP/USD extended its gains during the North American session, after hitting a daily low of 1.2446, though some hawkish remarks by officials of the Bank of England (BoE) sponsored a leg-up back above the 1.2500. At the time of writing, the pair is trading at 1.2529, gaining 0.20%, slightly below the two-month high of 1.2559.
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GBP/USD sits near its highest level since September, just below mid-1.2500s ahead of FOMC minutes
The
GBP/USD pair continues to gain positive traction for the third successive day and climbs to over a two-month peak during the first half of trading action on Tuesday. Spot prices maintain the bid tone around the 1.2530-1.2535 region through the early European session and seem poised to build on the ascending trend in the wake of the underlying bearish sentiment surrounding the
US Dollar (USD).
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GBP/USD could still revisit 1.2580 – UOB
There still seem to be room for
GBP/USD to reach the 1.2580 zone in the near term, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.
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