The British pound is gaining in value after cushioned data from the US despite Warsh’s hawkish stance

The pound sterling (GBP) rose 0.14% on Wednesday amid a broad-based strengthening in the US dollar (USD) and comments from Federal Reserve (Fed) Chairman Kevin Warsh, who reiterated that the central bank would not provide forward guidance despite admitting that inflation remains too high. At the time of writing, GBP/USD is trading at 1.3277 after rebounding from intraday lows of 1.3219. Read more…

The British pound falls against the US dollar on key US data

The British pound (GBP) fell 0.22% to near 1.3234 against the US dollar (USD) during Wednesday’s European session. GBP/USD is falling as rising United States (US) Treasury yields have strengthened the US dollar (USD). Read more…

British Pound weakens below 1.3250 on UK political risk and BoE revaluation

In early Asian trading on Wednesday, GBP/USD is trading negatively around 1.3245. Traders are waiting for political developments in the UK, focusing on Andy Burnham’s potential leadership and compliance with existing fiscal rules. Bank of England (BoE) Governor Andrew Bailey is due to speak later in the day. On Thursday, all eyes will be on US employment data for June. Read more…