The GBP/USD pair trades on a softer note near 1.3500 during the early European session on Tuesday. The US Dollar (USD) posts modest gains against the Pound Sterling (GBP) as traders pared bets on a rate cut at the US Federal Reserve (Fed) September 16-17 meeting. The UK July Consumer Price Index (CPI) inflation report will take center stage later on Wednesday.
A report last week showed that the US Producer Price Index (PPI) increased by the most in three years in July amid a surge in the costs of goods and services. This, in turn, prompted traders to reduce expectations of rate reduction, supporting the Greenback. The Fed is expected to cut interest rates in September and once more this year, according to most economists from the Reuters poll.
Traders brace for the Fed's annual Jackson Hole conference later on Friday for fresh impetus. However, renewed concerns over the Fed's independence from political interference could drag the USD lower and act as a tailwind for the major pair.
On the GBP's front, the upbeat UK Gross Domestic Product (GDP) report for the second quarter (Q2) could complicate the Bank of England's (BoE) path to cutting interest rates further and might help limit the GBP's losses. The UK GDP slowed to 0.3% in the three months to June, down from a rate of 0.7% in Q1, but came in stronger than the expectation of a 0.1% expansion in the reported period.
Source: FXstreet
The British Pound (GBP) advances sharply against the US Dollar (USD) on Wednesday, with GBP/USD climbing to a one-week high, reaching its strongest level since September 24, as the Greenback remains u...
GBP/USD caught a slight lift on Tuesday, creeping into the 1.3450 region and tilting into a third straight bullish session. United Kingdom (UK) Gross Domestic Product (GDP) growth figures beat expecta...
The British Pound (GBP) gains traction against the US Dollar (USD) on Friday, with GBP/USD snapping a two-day losing streak. At the time of writing, the pair is hovering near 1.3393, staging a modest ...
The British pound held above $1.363, close to its highest in over ten weeks, as traders awaited key central bank decisions. The Bank of England is expected to leave rates at 4% on Thursday while slowi...
Pound Sterling (GBP) gained modestly against the dollar but underperformed the euro as stagnant productivity, soft labor demand, and sticky wage growth underscore the UK's stagflation risk, BBH FX ana...
US stocks were higher on Monday, with the S&P 500 up 0.3%, the Nasdaq gaining 0.5%, and the Dow Jones rising roughly 60 points, as AI-related partnerships continued to support investor sentiment. AMD shares soared more than 30% after the...
The White House is tightening its pressure on Democratic lawmakers as the U.S. government shutdown enters its second week, saying it will give them another chance to agree on a spending bill before beginning mass layoffs of federal employees. With...
Gold prices hit an all-time high on Monday (October 6), surging above $3,900 an ounce, as investors flocked to safe-haven assets amid the US government shutdown, broader economic uncertainty, and the prospect of further Federal Reserve interest...
European stocks closed mostly higher to extend the positive momentum this week on strength in healthcare and luxury brands. The Eurozone's STOXX 50...
If it just seems like the first Friday of the month wasn't the same without being able to pore through the Bureau of Labor Statistics' hotly watched...
The S&P 500 closed mostly flat on Friday, the Dow Jones extended its record run, rising 240 points finisheing at 46,758 after briefly surpassing...
Federal Reserve (Fed) Bank of Dallas President Lorie Logan struck a nervous tone on Friday, warning that despite a rapidly-weakening labor market, a...