Tag: gbp/usd

Sterling could come under renewed selling pressure as long as it trades below May's lows.

It looks like the GBP has quickly erased today's post-CPI losses as traders are selling the greenback heading into Powell's testimony.

The Bank of England has decided to raise the Bank Rate by 25 basis points to 1.25%. The central bank declared that inflation is set to peak at an alarming 11 percent by the end of the year.

Sentiment deteriorated sharply Monday, sending the GBP/USD pair to one-month lows.

The immediate trend for Sterling seems unclear as it lacks momentum, but volatility remains elevated.

Bulls retreated quickly as the UK's services sector deteriorated notably.

This week, the UK's unemployment rate fell to a 48 year low of 3.7% in the first quarter of the year, while inflation accelerated to a 9% annual rate in April.

The positive sentiment failed to last, with US investors quickly selling today's rallies in risk assets.

This week will be dominated by the Bank of England's monetary policy decision and the Federal Reserve's monetary policy decision.

The GBP/USD pair slid more than 1% on Friday, undermined by the miserable UK data and the global strength of the greenback.