GBP/USD tanks below 1.2600 after US NFP and ISM PMIs data

The Pound Sterling (GBP) slumped late in the New York session versus the Greenback (USD) as US Treasury bond yields rose and bolstered the USD, which is set to print its seven consecutive week printing gains. The GBP/USD hit a daily high of 1.2712 before reversing its course and diving toward the current exchange rate, trading at around 1.2590s. Read More…

The Pound Sterling (GBP) weakens as market sentiment turns bearish and investors see a higher interest rate peak from the Bank of England (BoE). The GBP/USD discovered selling interest as BoE policymakers, including Deputy Governor Ben Broadbent and Chief Economist Huw Pill, warned that sufficiently restrictive policy needs to be maintained longer to bring down the core Consumer Price Index (CPI) to the desired rate of 2%. Also, a strong recovery in the US Dollar Index after US NFP and Manufacturing PMI reports have built selling pressure on the GBP/USD pair. Read More…

GBP/USD struggles to recover from the previous day’s losses, hovering around 1.2680 during the Asian session on Friday. The pair is under pressure ahead of the releases of employment and manufacturing data from the United States (US). Read More…