GBP/USD retraces the recent losses near 1.2150, focus on UK labor data, US Retail Sales

GBP/USD recovers from the recent losses ahead of economic figures from both countries. A slew of solid US data contributed support in underpinning the US Dollar. Investors seem to price in the probability of another rate hike by the Fed. ft in discussions about the trajectory of the US Federal Reserve's monetary policy. Investors are expected to focus on the labor data coming from the United Kingdom .

This could result in providing downward pressure on the GBP/USD pair. Moreover, the recovery in US Treasury yields from the recent losses could provide support in underpinning the US Dollar . The yields on US Treasury bonds recovers on Monday, with the 10-year US Treasury bond yield standing at 4.65%, up by 1.0%. Additionally, the Greenback remains to benefit from the safe-haven flow amid the rising geopolitical tension between Israel and Palestine.

Source: Digital Coin News (digitalcoinnews.net)

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