GBP/USD exchange rate firms on positive US durable goods orders data
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#b4222ee6 ver:0.97
The GBP/USD exchange rate firmed on March 27, 2024, following the release of positive durable goods orders data from the US. Durable goods orders in the United States expanded by 1.4% in February, surpassing market expectations of a 1.1% rise and rebounding from last month's downwardly revised -6.9% figure. The Pound (GBP) remained range-bound against most of its peers due to the absence of significant macroeconomic data releases. However, grocery price inflation in the UK slowed to 4.5% in March, the lowest level since February 2022. Market participants are now awaiting the UK's finalised GDP data for the fourth quarter of 2023, which is expected to confirm that the UK economy fell into a technical recession in the second half of 2023. This may have an impact on GBP exchange rates later i...
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