The Pound Sterling (GBP) extends its downside below the psychological support of 1.2500 against the US Dollar (USD) during Wednesday’s London session.
The Pound Sterling drops below 1.2500 as the US Dollar strengthens ahead of the announcement of the latest Fed policy decision. In a light economic calendar week in the UK, speculation for BoE rate cuts is expected to drive the Pound Sterling. Investors expect that the Fed will emphasize the need to maintain the current interest rate framework for longer. The Pound Sterling extends its downside below the psychological support of 1.2500 against the US Dollar during Wednesday’s London session.
0 in April from 50.3 in March. The 50.0 figure is the threshold that separates expansion from contraction. A weaker-than-expected Manufacturing PMI will indicate that US factory activity contracted in April. Technical Analysis: Pound Sterling faces pressure near 1.2570 The Pound Sterling falls sharply against the US Dollar after failing to extend its upside above the crucial resistance of 1.2570. The GBP/USD pair also fails to sustain above the 20-day Exponential Moving Average around 1.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pound Sterling slumps against US Dollar ahead of Fed policy, US dataThe Pound Sterling (GBP) edges down from a two-week high of 1.2570 but holds above the psychological support of 1.2500 against the US Dollar (USD) in Tuesday’s London session.
Read more »
Pound Sterling Holds Rebound Against US Dollar Ahead of US CPI DataThe Pound Sterling remains cautious as it rebounds from seven-month lows against the US Dollar. The GBP/USD pair faces downside risks as the daily RSI remains below 50.00. Market nervousness ahead of Wednesday's US Consumer Price Index (CPI) data weighs on the higher-yielding Pound Sterling.
Read more »
Markets Week Ahead: Gold, US Dollar, Euro, Pound SterlingThis week sees crucial US inflation (CPI) data alongside deliberations from the European Central Bank on monetary policy. FOMC minutes may already be out of date
Read more »
Pound Sterling faces pressure as US Dollar strengthens ahead of Nonfarm Payrolls reportThe Pound Sterling (GBP) retreats to 1.2620 in Friday’s London session after failing to recapture the round-level resistance of 1.2700.
Read more »
Pound Sterling rises on improved market mood, decline in US DollarThe Pound Sterling (GBP) prints a fresh two-week high against the US Dollar (USD) near 1.2550 in Monday’s London session.
Read more »
Forex Today: UK inflation data support Pound Sterling, US Dollar consolidates before FedspeakHere is what you need to know on Wednesday, April 17: The US Dollar holds steady against its major rivals after ending Tuesday on a bullish note.
Read more »