Pound Sterling Price News and Forecast: GBP/USD retreats back under 1.3850 after hitting monthly highs above 1.3900
The GBP/USD was unable to hold above key technical levels and pulled back amid a recovery of the US dollar. Cable peaked after the beginning of the American session at 1.3913, the highest level in a month and then weakened. It erased most of its daily gains and it is hovering slightly below 1.3850. Read more…
GBP/USD rises, FTSE 100 retreats after strong UK jobs data
The GBPUSD pair rallied after the relatively strong UK jobs numbers. The data revealed that the number of job vacancies rose to more than 1 million for the first time on record. This happened as the country’s unemployment rate declined to 4.6% in the three months to July. This was relatively lower than the previous 4.7%. More people moved to the workforce as more opportunities came up and economic inactivity fell. This increase was mostly led by young people, who were hit hard during the pandemic. The pair will next react to the latest UK inflation numbers scheduled for Wednesday. Meanwhile, the FTSE 100 declined after the weak trading statement by Ocado and the strong results by JD Sports. Read more…
GBP/USD Forecast: Sterling bulls fully dependent on dollar weakness, critical US CPI eyed
Benefiting from the misery of others has its limits – GBP/USD has resumed its falls in response to unconvincing UK labor figures. The Claimant Count Change – aka jobless claims – dropped by only 58,600 in August, weaker than over 70,000 expected. That shows Britain’s recovery is slowing down. Read more…
Text source: MCC.EXCHANGE
