GBP/USD contracts into near-term midrange ahead of key UK and US data
GBP/USD pared recent gains on Wednesday, trimming back to the low side of the 1.3300 handle and falling back into a choppy near-term consolidation phase as investors buckle down for Thursday’s double feature of key data prints from both the United Kingdom (UK) and the United States (US). Read More...
GBP/USD slips modestly from weekly high as traders await UK GDP
The Pound Sterling (GBP) erases some of its earlier gains on Wednesday after reaching a weekly high of 1.3359, and edges down 0.03% amid a lack of catalysts as traders brace for the release of GDP figures for the United Kingdom (UK). At the time of writing, GBP/USD trades at 1.3293. Read More...
Pound Sterling outperforms US Dollar as US inflation cools down
The Pound Sterling (GBP) gains further to near 1.3350 against the US Dollar (USD) in Wednesday’s North American session. The GBP/USD pair extends Tuesday's recovery move as the US Dollar retraces further after the release of the softer-than-expected United States (US) Consumer Price Index (CPI) data for April on Tuesday. Read More...
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EUR/USD caught a bid on Wednesday, breaking through the 1.1300 technical barrier and climbing for a third straight session after market sentiment turned away from the US Dollar following a pummeling of US Treasury markets. Treasury yields rose and demand for 20-year Treasury bonds fell in a mid-session bond auction, prompting a general pullout from US assets, including the Greenback, which is generally considered a safe haven.
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