GBP/USD falls to near 1.3550 amid rising economic concerns in United Kingdom
GBP/USD continues its losing streak for the sixth consecutive day, trading around 1.3560 during the Asian hours on Friday. The pair depreciates as the US Dollar (USD) extends its gains due to evolving monetary policy signals by the Federal Reserve’s (Fed) officials.
Federal Reserve Bank of Chicago President Austan Goolsbee said late Thursday that he does not support the arguments that the US central bank should cut rates to make government debt cheaper, the mandate is on jobs and prices. Read more…
GBP/USD continues to churn as Cable traders await a reason to move
GBP/USD churned chart paper in familiar territory through Thursday, cycling through the same block of intraday levels near the 1.3600 handle. Broad-market sentiment recovered from fresh tariff woes early in the week, but investors continue to bank on a broad walkback (or further suspensions) of tariffs threatened by US President Donald Trump.
Friday brings a thin cluster of mid-tier data to close out the trading week. UK Gross Domestic Product (GDP) figures for the month of May are due early in the London market session at 06:00 GMT. However, the backdated figures are largely expected to show a thin recovery in already-meager numbers, and market impact will likely remain limited. Read more…
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Elida Byron