GBP/USD extends losses below 1.2150 on hot US data, focus shifts to Core PCE, UK GDP
GBP/USD continues the losing streak that began on September 20, trading below 1.2150 during the Asian session on Wednesday. Upbeat economic data from the United States (US) reinforces the prevailing pressure on the pair.
US Consumer Confidence released on Tuesday for September declined to 103.0 from the previous reading of 108.7 in August. While Building Permits rose to 1.541M in August from 1.443M prior. Read more...
GBP/USD now looks at 1.2100 – UOB
Extra weakness could drag GBP/USD to the 1.2100 region in the next few weeks, note UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia. Read more...
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