GBP/USD Price Analysis: Rising on Weak US Dollar, Bullish Eye Closes Day Above 1.2800
GBP/USD posted decent gains of more than 0.20% on Friday after US payroll data for June showed the economy added more jobs than expected, although a downward revision to April and May data suggested the labour market had weakened further. The main trades at 1.2790, above the opening price, after hitting an intraday low of 1.2752. Read more…
Sterling maintains gains on UK Labour victory and slower US wage growth
The British Pound (GBP) is showing tremendous strength against major currencies, except for the Japanese Yen (JPY), in Friday’s US session. The British currency is performing well as Prime Minister of the United Kingdom (UK) Rishi Sunak-led Conservative Party suffered a defeat after remaining in power since 2010 to the Labour Party led by Keir Starmer in the general election on Thursday. Read more…
Sterling holds its ground as Keir Starmer is set to become the UK’s novel prime minister
The pound sterling (GBP) extended its winning streak on Friday as Labour won 410 of the 650 seats in parliament, according to the BBC. The result would give Labour a majority of around 170 seats, ending 14 years of increasingly turbulent Conservative rule. Read more…
