GBP/USD FALLS AMID POWELL’S COMMENTS, STRONG US PMIS
- GBP/USD falls 0.74% to 1.2535, influenced by Powell's rate stance and strong US jobs data.
- Powell's emphasis on inflation control tempers early rate cut expectations.
- US Nonfarm Payrolls' substantial job growth supports optimism for the US economy, boosting the Dollar.
- Rising US Treasury yields post-Powell and solid economic data prompt Fed rate cut reassessment.
- UK services sector's positive start overshadowed by US monetary policy and economic outlook focus.
The GBP/USD tumbles in the mid-North American session trade with losses of 0.74% and exchanges hands at 1.2535. Factors like last Friday's US economic data and over-the-weekend comments of Federal Reserve Chair Jerome Powell keep the US Dollar bid amid a risk-off impulse.
- GBP/USD falls 0.74% to 1.2535, influenced by Powell's rate stance and strong US jobs data.
- Powell's emphasis on inflation control tempers early rate cut expectations.
- US Nonfarm Payrolls' substantial job growth supports optimism for the US economy, boosting the Dollar.
- Rising US Treasury yields post-Powell and solid economic data prompt Fed rate cut reassessment.
- UK services sector's positive start overshadowed by US monetary policy and economic outlook focus.
The GBP/USD tumbles in the mid-North American session trade with losses of 0.74% and exchanges hands at 1.2535. Factors like last Friday's US economic data and over-the-weekend comments of Federal Reserve Chair Jerome Powell keep the US Dollar bid amid a risk-off impulse.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.