GBP/USD falls amid Powell’s comments, strong US PMIs

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The GBP/USD falls 0.74% to 1.2535 influenced by Powell's rate stance and strong US jobs data. Powell commented that it is premature to consider cutting rates, but left the door open to easing policy. US Nonfarm Payrolls showed substantial job growth, supporting the US economy and boosting the Dollar. Rising US Treasury yields and solid economic data prompt a reassessment of Fed rate cuts. The UK services sector's positive start is overshadowed by US monetary policy and economic outlook focus. The GBP/USD has fallen below the 200-day moving average and aims to extend losses further below 1.2500. US Dollar strength and positive economic data weigh on the pair.

#Gbp/usd #Powell #UsPmis #UsNonfarmPayrolls #UsDollar #UkServicesSector

https://www.fxstreet.com/news/gbp-usd-falls-amid-powells-comments-strong-us-pmis-202402051828