Open Demo Account
Home / Market Update / Forex Market / GBP/USD Maintains Downward Trend After BoE Remarks and U.S. Inflation Data

GBP/USD Maintains Downward Trend After BoE Remarks and U.S. Inflation Data

M. Ali 11 June, 2021 2:57 am Forex Market, Market Update

The British Pound (GBP) declined against the U.S. Dollar (USD) on Thursday, after data showed a surge in the inflation rate in the United States.

The GBP/USD pair maintained its downward trend for the third consecutive day, failing by about 0.17% to 1.4094.

The Sterling rose earlier in the session against the greenback, following remarks by Bank of England’s (BoE) chief economist, Andy Haldane, who warned against the risks of high inflation.

On the other hand, staling negotiations between London and the European Union regarding an arrangement for Northern Ireland weighed on the GBP.

Meanwhile, consumer prices in the U.S. last month registered their biggest rise since 2008.

Tags

Check Also

Japanese Yen Defies Dollar Strength as Domestic Tailwinds Take Center Stage

The Japanese yen extended its gains during Wednesday’s trading, brushing aside the recent rebound in …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends