Pound Sterling Price News and Forecast: Pound recovers as steady UK wage deepens BoE rate-cut uncertainty

May 14, 2024 10:02 pm

Pound Sterling recovers as steady UK wage growth deepens BoE rate-cut uncertainty

The Pound Sterling (GBP) discovers strong buying interest near the psychological support of 1.2500 against the US Dollar in Tuesday’s New York session. The GBP/USD pair rebounds as the impact of weak United Kingdom (UK) Employment data for three months ending in March was offset by steady wage growth. Also, a decline in the US Dollar despite hot United States Producer Price Index (PPI) has boosted demand for the Cable. Read More…

GBP/USD clings to near 1.2550 ahead of Unemployment Rate

GBP/USD hovers around 1.2560 during the Asian session on Tuesday following the improved risk appetite. The Pound Sterling (GBP) received support from higher-than-anticipated UK Gross Domestic Product (GDP) figures released on Friday. The UK economy expanded by 0.6% in Q1, surpassing expectations and signaling the end of the country’s brief recession. This robust economic rebound represents the strongest growth seen in over two years. Read More…

GBP/USD consolidates its gains above 1.2550 ahead of UK employment data

The GBP/USD pair consolidates its gains near 1.2560 on Tuesday during the early Asian session. The weaker US Dollar (USD) amidst the generalized better tone in the appetite for risk-related assets provides some support to the major pair. Investors will closely monitor the UK employment market, the speech by the BoE’s  Pill, and US Producer Price Index (PPI) data, due later on Tuesday. Read More…

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