The Pound Sterling (GBP) seems vulnerable against the US Dollar (USD) near the round-level support of 1.2700 in Monday’s London session.
The Pound Sterling drops to 1.2700 as delayed Fed interest rate-cut prospects dampen market sentiment. The strong US NFP report for May hit market speculation for Fed rate cuts. This week, investors will focus on UK Employment , US CPI and the Fed ’s policy decision. The Pound Sterling seems vulnerable against the US Dollar near the round-level support of 1.2700 in Monday’s London session.
Bank of England policymakers will keenly focus on the wage inflation measure, as it is a major driver of service inflation that has remained a key barrier for price pressures to return to the desired rate of 2%. Technical Analysis: Pound Sterling holds the 61.8% Fibonacci retracement support The Pound Sterling hovers near 1.2700 against the US Dollar after falling sharply from the round-level resistance of 1.2800. The GBP/USD pair falls but still holds the 61.
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