GBP/USD bulls keep the reins above 1.2600 as US inflation, BoE and UK GDP loom – by anilpanchal7 GBPUSD BOE GDP Inflation RiskAversion
officials and negative developments around the US banking and debt ceiling issues seem to challenge the GBP/USD bulls amid the holiday in the UK.Nonfarm Payrolls
Following the upbeat US employment report, St. Louis Federal Reserve President James Bullard, who supported the 25 basis point rate hike that the Fed took last week, called it "a good next step." The policymaker cited significant amount of inflation in the economy and "very tight" labor market to back his hawkish bias.
At home, the final readings of the UK’s S&P Global/CIPS Services PMI rose past 54.9 initial forecasts to 55.9 for April while the Composite PMI also increased to 54.9 versus 53.9 flash estimations for the said month.
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