British Pound rebounds as US Dollar bulls fade despite hot Core PCE
The Pound Sterling (GBP) advances 0.22% against the US Dollar (USD) on Thursday, even though the US economy grew faster than previously reported in Q1, while inflation readings suggest the Federal Reserve (Fed) needs to tighten policy. The GBP/USD pair trades at 1.3194 after bouncing off daily lows of 1.3151. Read More…
British Pound picks up nearing 1.3200 with all eyes on US PCE Price Index data
The British Pound (GBP) shows mild gains against the US Dollar (USD) on Thursday, as investors trim their USD long positions ahead of the release of the US Personal Consumption Expenditures (PCE) Price Index later in the day. The pair has bounced from seven-month lows at 1.3140 but remains below 1.3200 so far, practically flat on weekly charts. Read More…
British Pound holds gains above 1.3150, US PCE inflation data looms
The GBP/USD pair recovers some lost ground to near 1.3175 during the Asian trading hours on Thursday. However, the potential upside for the major pair might be limited amid UK political instability and rising expectations of US interest rate hikes this year. Traders await the US May Personal Consumption Expenditures (PCE) inflation data on Thursday for fresh impetus. Read More…
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