The GBP/USD is trading flat but but erratic as it attempts to stay above the 1.2400 handle. The midweek rally in the Pound Sterling remains vulnerable as markets pare back gains. The GBP is consolidating due to weak UK data.As the pair struggles to break above the upper end of …
Read More »GBP/USD slides for seventh day on weak UK data
The GBP/USD has slid for the seventh day. The Sterling has been impacted by weak UK PMIs and the overall gloomy UK economic future perspective. The UK PMI shows the largest month-on-month drop in 11 months, signaling a potential weakening of post-pandemic spending. The Sterling is even seen as heading …
Read More »Recent data indicates BoE’s 25 bps hike in May
Following the most recent UK inflation estimate, economists anticipate a 25 basis point increase in the Bank of England’s benchmark interest rate in May. Data on the UK labour market and inflation released this week have given the Bank of England (BoE) policy officials some positive surprises.Analysts revise their projections …
Read More »EUR/GBP hits highest level in a year
The EUR/GBP pair has broken multi-day range and jumped to 0.8681, hitting the highest level since May 2021; rising almost a hundred pips on Tuesday, and surging for the third day in a row. The Euro is also rising versus the Swiss franc on Tuesday. EUR/CHF climbed above 1.0420 reaching …
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