GBP/USD retreats from 1.3600 on strong US jobs data

The GBP/USD rally stalls as the Greenback stages a recovery, pushing the pair down over 0.24% after registering three straight days of gains that fell short of cracking the 1.3600 figure. Positive economic data in the US triggered a reaction from investors, who trimmed the odds of additional cuts by the Federal Reserve. The pair trades at 1.3548. Read More…

Pound Sterling weakens as UK PMI grew modestly

The Pound Sterling (GBP) declines against its major peers on Thursday as the preliminary United Kingdom (UK) S&P Purchasing Managers’ Index (PMI) report for July has shown that the overall business activity grew at a slower-than-projected pace. The Composite PMI come in at 51.0, lower than estimates of 51.9 and 52.0 in June, suggesting that the overall business activity continued to expand, but at a moderate pace. Read More…

GBP/USD rises to near 1.3600 due to risk-on mood, UK PMI data eyed

GBP/USD remains steady after four days of gains, trading around 1.3580 during the Asian hours on Thursday. The pair maintains its position near two-week highs as the US Dollar (USD) continues to weaken amid risk-on sentiment, driven by the optimism over further trade deals between the United States (US) and key partners. Read More…