GBP/USD poised for six-month weekly rise, boosted by UK data, BoE tightening expectations
GBP/USD trades with solid gains on Friday, set to finish its weekly rise in six months after UK economic data supported additional
Bank of England (BoE) tightening. The US Federal Reserve (Fed) keeping rates unchanged was a headwind for the US Dollar (USD). Hence, the GBP/USD is trading at 1.2833, up 0.40%, after hitting a low of 1.2768.
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GBP/USD refreshes annual high at 1.2830 as BoE prepares for further policy-tightening
The
GBP/USD pair has printed a fresh annual high at 1.2830 in the early American session. The Cable has shown resilience as the
Bank of England (BoE) is expected to raise interest rates further to sharpen its quantitative tools in the battle against United Kingdom’s stubborn inflation.
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GBP/USD could advance to 1.2900 near term – UOB
Extra gains could see
GBP/USD revisiting the 1.2900 region in the next few weeks, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.
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