GBP/USD reaches levels above 1,3200, the highest since October before the United Kingdom’s employment data
The GBP/USD torque attracts buyers for the sixth consecutive day and rises above the 1,3200 brand, reaching a new maximum since October 2024 during the Asian session on Tuesday. In addition, the bearish feeling around the US dollar (USD) suggests that the lower resistance path for cash prices remains up.
Investors are still concerned about the possible economic repercussions of the growing commercial war between the US and China. In fact, China increased its tariffs on US imports at 125% on Friday in retaliation for the decision of US President Donald Trump to raise tariffs on Chinese products to 145% unprecedented. The US still imports several difficult materials to replace China and this development weakens confidence in the US economy, which, in turn, keeps the USD’s bulls on the defensive and supports the GBP/USD. Read more…
The recovery of the GBP/USD continues uninterrupted by fifth consecutive session
The GBP/USD rose three quarters of one percent on Monday, increasing by fifth consecutive negotiation session while the sterling pound continues to recover terrain against the weakened dollar. Despite the firm rise of the GBP in the graphics against the USD, there are still challenges ahead with key economic data from the United Kingdom on the publications agenda for this week.
The United Kingdom’s labor data will be published early during the Tuesday London market session. It is expected that the ILO unemployment rate for the 3 months ended in February will remain stable at 4.4%, and the change in the number of applicants for March is expected to be reduced to 30.3K from 44.2K of February. 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.
