GBP/USD slumps on last week’s BoE’s dovish stance; USD soars on high US yields
The British Pound (GBP) remains under pressure following a surprising decision by the Bank of England (BoE) to keep rates unchanged, which caught off guard traders, expecting further tightening. US Treasury bond yields edged to multi-year highs, underpinning the Greenback (USD), as seen by the GBP/USD trading at 1.2215, registering losses of 0.16%. Read More...
Pound Sterling remains delicate on sticky inflation and bleak demand outlook
The Pound Sterling (GBP) faces selling pressure as investors start worrying about the United Kingdom’s weak economic outlook and upside risks to inflation on Albion’s shores. The GBP/USD pair came under severe pressure after an unexpected pause in the policy-tightening spell by the Bank of England (BoE) last week. The GBP/USD outlook weakens as a sudden skip in the rate-tightening regime by the UK central bank against expectations of an interest rate increase signaled risks of economic slowdown. Read More...
GBP/USD Price Analysis: Remains on the defensive below the 1.2250 mark amid the oversold condition
The GBP/USD pair remains on the defensive below the mid-1.2200s during the Asian session on Monday. Market players await the release of the UK’s Gross Domestic Product (GDP) for the second quarter and the US highly-anticipated Core Personal Consumption Expenditure (PCE) Price Index data due on Friday. The major pair currently trades near 1.2242, gaining 0.02% on the day. Read More...
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