GBP/USD Price Analysis: Extends losses and approaches 1.2600
The Pound Sterling prolonged its agony and fell for the second straight day after the Bank of England’s decision to hold rates unchanged, signaling that the beginning of the easing cycle is coming. Additionally, mixed UK economic data, with Retail Sales exceeding estimates but flash PMIs softening, hints the economy might be slowing. The GBP/USD trades at 1.2636, down 0.16%. Read More…
Pound Sterling declines toward 1.2600 as weak UK PMI weighs on economic outlook
The Pound Sterling (GBP) remains on the back foot in Friday’s American session against the majority of currencies except for the Euro, in the aftermath of strong United Kingdom (UK) Retail Sales data for May and weak preliminary S&P Global/CIPS data for June. The UK Office for National Statistics (ONS) reported stronger-than-expected Retail Sales data for May. The report showed that monthly Retail Sales rebounded, growing at a robust 2.9%, more than the 1.5% expected. On year, Retail Sales surprisingly rose by 1.3% while investors expected them to have declined by 0.9%. Read More…
GBP/USD Price Analysis: Holds steady above mid-1.2600s, not out of the woods yet
The GBP/USD pair is seen oscillating in a range during the Asian session on Friday and consolidating the previous day’s post-Bank of England (BoE) decline to over a one-month low. Spot prices currently trade just above mid-1.2600s and seem vulnerable to prolonging the recent retracement slide from a multi-month peak, around the 1.2860 region touched last week. Read More…
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