GBP/USD rides high on US economic woes, breaks above 1.2700

Pound Sterling (GBP) advances for three consecutive days against the US Dollar (USD) amid a light economic calendar in the UK. A busy economic week fo

GBP/USD trades at 1.2710, up 0.58%, buoyed by weaker-than-expected US jobs data and a downward revision of Q2 GDP to 2.1%.

Bank of England’s expected rate hikes and a report showing restrained consumer borrowing in the UK further support the Pound.economic calendar GBP/USD gains for third straight day, on dismal US jobs data, GDP figures lowered Fed hikes expectations Other data showed the economy is deteriorating, with the second estimate of Q2 Gross Domestic Product coming at 2.1%, below the previously reported 2.4%, signaling the economy is decelerating.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

FXStreetNews /  🏆 14. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Pound Sterling Price News and Forecast: GBP/USD attracts buyers for the second successive dayThe GBP/USD pair gains some positive traction for the second successive day on Tuesday and recovers further from its lowest level since June 13, aroun
Read more »

GBP/USD Price Analysis: Pound Sterling portrays pre-data consolidation below 1.2680 hurdleGBP/USD seesaws around 1.2650 after rising the most in three weeks the previous day. In doing so, the Cable pair portrays the market’s cautious mood a
Read more »

Pound Sterling capitalizes on risk-on mood, hawkish BoE betsThe Pound Sterling (GBP) is holding its ground on Wednesday as a higher risk appetite among market participants continues to improve the appeal for ri
Read more »

Pound Sterling Price News and Forecast: GBP/USD trades lower due to the improvement in US bond yieldsGBP/USD trades lower around 1.2630 on the back of a recovery in the US Dollar (USD), which could be attributed to the improvement in US Treasury yield
Read more »

Pound Sterling Price News and Forecast: GBP/USD has scope to extend lower in zigzag correction [Video]GBP/USD gained traction in the Asian session and climbed above 1.2600 after posting small gains on Monday. The pair, however, is yet to show signs of
Read more »

GBP/USD faces some consolidation above 1.2685In the view of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, GBP/USD could face some range bound trade above the 1.2685 le
Read more »