GBP/USD moves down below 1,3450 before the US GDP publication.
The GBP/USD torque quotes in negative territory around 1,3435 during the early European session on Thursday. The dollar is strengthened against the sterling pound (GBP) after the US Commercial Court blocks the wide tariffs of President Donald Trump. The preliminary reading of the US Gross Domestic Product (GDP) report for the first quarter (Q1) will be the culminating point later on Thursday.
The May meeting summary of the Federal Open Market Committee (FOMC) suggested that uncertainty about economic perspectives has increased even more. Federal Reserve officials (FED) said that fulfilling their dual objectives of full employment and low inflation has been complicated due to political uncertainty. Those responsible for the Fed emphasized the need to maintain interest rates waiting for some time, since policy changes in the US cloud economic perspectives. Read more…
GBP/USD marks a second day down before the US key data.
The GBP/USD cut more profits on Wednesday, stumbling for the second consecutive session and retreating below 1,3500 after a failed attempt to recover 1,3600 earlier this week. The Libra markets are withdrawing from the upper end of a bullish streak that led the cable to maximum of several years, however, the impulse still favors the bosters of the pound sterling.
The latest minutes of the Federal Committee of the Open Market Committee (FOMC) of the Federal Reserve (FED) of May 6-7 revealed that the Fed waiting approach has deep roots. Those responsible for the policy at the last meeting of the Fed pointed out that the status of safe US dollar (USD) has suffered a coup recently. They warned that a “more lasting change” in the status of the dollar could have lasting impacts on the US economy read more …
GBP/USD looks up after the minutes of the FED meeting show a growing caution
The latest minutes of the Federal Committee of the Open Market Committee (FOMC) of the Federal Reserve (FED) of May 6-7 revealed that the Fed waiting approach has deep roots. Those responsible for the policy at the last meeting of the Fed pointed out that the status of safe US dollar (USD) has suffered a coup recently. They warned that a “more lasting change” in the status of the dollar could have lasting impacts on the US economy.
Almost all members of the FOMC at the May Rate Meeting agreed that inflation risks could be more “persistent than expected.” With the Fed staff directly citing the impacts of tariffs as a key factor in the weakened perspective of the FOM on the US economy, the FOMC has attributed the US economic conditions on deterioration and the uncertain perspective on inflation and growth to the changing tariff policies of the Trump administration. 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.
