GBP/USD rises to 1,3450 before the United Kingdom PMI data
GBP/USD lifes up to the fourth consecutive day, operating around 1,3430 during Thursday’s Asian hours. The increase in torque is attributed to the weakening of the US dollar (USD), which continues to face challenges after the reduction of the US credit rating by Moody’s from AAA to AA1, after similar sales by Fitch Ratings in 2023 and standard & poor’s in 2011.
According to Moody’s, the US federal debt is expected to reach around 134% of GDP by 2035, compared to 98% in 2023, with a budget deficit that is expected to be extended to almost 9% of GDP. This deterioration is attributed to the increase in debt service costs, the expansion of rights programs and the fall in tax revenues. Read more…
GBP/USD shoots a new annual maximum as the United Kingdom inflation shoots, BOE rates cuts in doubt
The sterling pound (GBP) reached a new maximum in the year of 1,3468 against the US dollar (USD) on Wednesday, since the inflation of the United Kingdom (UK) increased, moving away from the goal of 2% of the Bank of England (BOE), which had led to reductions of interest rates at the beginning of the month. At the time of writing, the GBP/USD quotes at 1,3446, rising 0.40%.
The data of the United Kingdom have set aside the intentions of the BOE to continue reducing interest rates in the next meetings. The Consumer Price Index (CPI) in April rose 3.5% year -on -year, compared to 2.6% in March, the National Statistics Office (ONS) revealed. The underlying IPC increased by 3.8% year -on -year, exceeding the 3.4% increase in March. 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.
