Pound Sterling Price News and Forecast: GBP/USD rises as US data fuels rate cut speculation

FXStreet Team FXStreet

GBP/USD Price Forecast: Rises as US data fuels rate cut speculation

The Pound Sterling enjoys a good rebound off the weekly low of 1.3087 and rises in early trading on Wednesday during the North American session, climbing over 0.22% against the Greenback. Soft US jobs data increased the odds of a 50-basis points rate cut by the Federal Reserve and underpinned the GBP/USD higher, trading at 1.3163. Read More...

Pound Sterling bounces back from 1.3100 after weak US Job Openings

The Pound Sterling (GBP) jumps to near 1.3160 against the US Dollar (USD) in Wednesday’s North American session after falling to near the round-level support of 1.3100. The GBP/USD pair gains strong buying momentum as weak United States (US) JOLTS Job Openings data for July prompted downside risks to labor market. The US Job Openings data showed that fresh job vacancies came in lower at 7.673 million than estimates of 8.1 million and June's reading of 7.91 million, downwardly revised from 8.184 million. Read More...

GBP/USD holds steady above 1.3100 ahead of Fed Beige Book

The GBP/USD pair flat lines near 1.3110 during the early European session on Wednesday. However, the risk-off sentiment ahead of the key US events could provide some support to the US Dollar (USD) and drag the major pair lower. The US JOLTS Job Openings and Fed Beige Book are due later on Wednesday. Read More...

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