The Pound Sterling drops from 1.2680 as deepening Middle East tensions hurt risk-sensitive currencies. A sharp dip in UK inflation expectations improves BoE’s early rate cut hopes, weighing on the Sterling. The US Dollar bounces back ahead of the US Nonfarm Payrolls report. The Pound Sterling retreats to 1.2620 in Friday’s London session after failing to recapture the round-level resistance of 1.2700.
Tim Moore, Economics Director at S&P Global Market Intelligence, said: The recovery in service sector output lost a little bit of momentum during March, and more so than suggested by the flash PMI results, but the overall picture remains reasonably positive.” Technical Analysis: Pound Sterling finds selling pressure near 1.2680 The Pound Sterling falls further after retreating from its two-week high of 1.2680.
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