GBP/USD Price Analysis: Recovers above 1.2500 as ‘hammer’ hints buyers in charge
The Pound Sterling erased some of its earlier losses against the US Dollar and edged up by 0.03% after the Bank of England’s (BoE) monetary policy decision. The GBP/USD traded at 1.2503 after hitting a low of 1.2445. Read More...
Pound Sterling recovers BoE-induced losses as US Dollar retreats
The Pound Sterling (GBP) recovers losses from an intraday low of 1.2450 inspired by the less-hawkish Bank of England's (BoE) interest rate policy. The GBP/USD pair rebounds strongly as the US Dollar weakens after the higher-than-expected Initial Jobless Claims (IJC) data. For the week ending May 3, individuals claiming jobless benefits were 231K, significantly higher than the consensus of 210K and the prior reading of 209K, upwardly revised from 208K. Weak jobless claims data has boosted concerns over easing labor market conditions due to higher interest rates by the Federal Reserve (Fed). Read More...
GBP/USD moves below 1.2500 ahead of BoE policy decision
GBP/USD extends its losing streak for the third successive day, trading around 1.2490 during the Asian session on Thursday. Thursday brings the Bank of England (BoE) interest rate decision, with expectations of maintaining interest rate at 5.25%. Read More...
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