GBP/USD Romes below 1,3400 due to the fortress of the US dollar and the expectations for cutting rates of the BOE
The GBP/USD extends its fall per second consecutive session, around 1,3390 during Wednesday’s Asian negotiation. The torque is under pressure as the US dollar is strengthened by the renewed optimism around commercial developments between the US and China. The operators now focus their attention on the next publication of the US Personal Consumption Expenditure Index (PCE) for March, a key inflation indicator for the Federal Reserve.
The American dollar index (DXY), which measures the USD compared to six main currencies, remains comfortably above the 99.00 mark, meanwhile, a rebound in the yields of the US Treasury bonds 4.17%, respectively, at the time of writing. Read more…
GBP/USD remains on positive terrain above 1,3400, waiting for the US key data.
The GBP/USD pair operates with slight profits about 1,3405 during the early Asian session on Wednesday. The economic data of the US weakest than expected drag the dollar down. Later on Wednesday, the US employment change will be published, together with the Personal Consumption Expenditure Price Index (PCE) and the preliminary report of the Gross Domestic Product (GDP) of the first quarter.
The data published by the US Labor Statistics Office on Tuesday showed that employment vacancies in the US fell to 7.19 million in March, the lowest level since September 2024, compared to the 7.48 million reviewed February. This figure was below the 7.5 million market consensus. Meanwhile, the Conference Board Conference Conference Index fell to 86.0 in April from 93.9 in March (reviewed from 92.9). This figure registered the lowest level since April 2020. Read more …
GBP/USD falls below 1.34 As risk recovery fades, US data disappoint
The sterling pound (GBP) depreciates against the US dollar (USD) and falls after trying the maximum of the year to date (YTD) of 1,3443. However, it fails to stay above 1.34 while extending its losses. At the time of writing, the GBP/USD is quoted at 1,3379, a 0.29%drop.
The trust of investors seems to have improved as the yields of the US Treasury bonds fell after the publication of American data worse than expected, which could justify a more lax policy by the Federal Reserve. Read more…
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
