Pound Sterling Price News and Forecast: GBP/USD remains supported by lockdown easing announcements

GBP/USD outlook: Cable loses traction as US rate talks/rising virus cases

Cable is standing at the back foot at the start of the week, following multiple failure to sustain break above 1.42 barrier and dollar regained traction on comments from Fed Treasury Secretary Yellen over the weekend, after it was deflated by weaker than expected US labor data on Friday. Yellen said that President Biden’s $4 trillion spending plan would boost inflation and contribute to increasing interest rate that would be a positive environment for the US, as the interest rates were to low for a long period of time. Read more…

GBP/USD Forecast: Pound remains supported by lockdown easing announcements

The GBPUSD pair trades around 1.4180 as the US session comes to an end, holding on to most of its intraday gains. The pair advanced on the broad dollar’s weakness witnessed during US trading hours, the echoes of the poor US employment report published last Friday. As for the pound, it found support in comments from  the UK’s Prime Minister spokesman, who said that nothing in current data would prevent easing the lockdown. Also, the UK health secretary said: “the majority of people in hospitals with COVID appear to be those” who haven’t been fully vaccinated. Read more…

GBP/USD closes in on 1.4200 as USD struggles to find demand

GBP/USD edges higher toward 1.4200 during the American session. US Dollar Index remains on track to close below 90.00. EU official says patience is wearing thin with UK on N. Ireland. The GBP/USD started the new week on a weak footing and declined toward 1.4100 in the early trading hours of the European session. However, the pair reversed its direction with the renewed USD weakness and was last seen gaining 0.25% on the day at 1.4190. Read more…

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