The Pound Sterling rises to a two-week high near 1.2550 amid an improved market mood. Investors see the BoE pivoting to interest rate cuts in the June or August meeting. The Fed ’s policy decision on Wednesday and the NFP report on Friday will be the key events this week. The Pound Sterling prints a fresh two-week high against the US Dollar near 1.2550 in Monday’s London session. The GBP/USD pair advances due to cheerful market sentiment and a decline in the US Dollar.
0 threshold, which separates expansion from contraction. The factory data is seen at 50.1, lower than the prior reading of 50.3. The PMI survey by S&P Global for the same period showed a sharp decline in the scale of production and new orders due to inflationary pressures, weak demand and sufficient stock holdings at customers. Later this week, the US Nonfarm Payrolls data will be the crucial event that will indicate the current status of the labor market.
Source: News Formal (newsformal.com)
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