GBP/USD Rises on Strong UK and US PMIs, Ahead of US GDP Report
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#f4e83713 ver:0.63
The Pound US Dollar (GBP/USD) exchange rate is consolidating in a narrow range above the mid-1.2600s, as the pair fails to gain any firm intraday direction. The GBP/USD pair is currently trading around the 1.2660 region, nearly unchanged for the day. Business leaders in the UK are expressing more pessimism about the economic outlook, pushing for early interest rate cuts by the Bank of England (BoE). Money market pricing suggests that traders expect around 140 basis points (bps) of rate cuts in 2024. Meanwhile, the release of the Federal Open Market Committee (FOMC) meeting minutes did not provide any clues about the timing of rate cuts by the Federal Reserve (Fed). This has led to an increase in US Treasury bond yields, supporting the US Dollar (USD). The overall weaker tone in equity mark...
#newstr #Gbp/usd #UkPmis #UsPmis #UsGdp
