Pound Sterling rises vs. USD, struggles against other peers
The Pound Sterling (GBP) bounces back to near 1.3320 against the US Dollar (USD) on Friday after a three-day correction. The GBP/USD pair gains as the US Dollar retraces ahead of the United States (US) Nonfarm Payrolls (NFP) data for April, which will be published at 12:30 GMT. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, corrects to near 99.85 from an over two-week high of 100.38.
Investors will pay close attention to the US official employment data as it will indicate to what extent the tariff policy by President Donald Trump has impacted the job growth. The labor market data will also influence market expectations for the Federal Reserve’s (Fed) monetary policy outlook. Read more…
GBP/USD Forecast: Pound Sterling buyers remain uninterested ahead of US employment data
GBP/USD staged a rebound early Friday but failed to stabilize above 1.3300 after posting losses for the third consecutive day on Thursday. The technical outlook points to a bearish bias in the near term as markets gear for the US employment data releases.
The improving risk mood helped the US Dollar (USD) hold its ground on Thursday, causing GBP/USD to continue to push lower. China’s Commerce Ministry stated that they will assess negotiations with the US after the US has taken the initiative to convey that they are willing to talk on trade. Read more…
