GBP/USD eyes first weekly loss in five around 1.2180 amid fears surrounding UK economy – by anilpanchal7 GBPUSD RiskAppetite Employment Housing Recession
Slump in UK’s house prices, easing momentum in labor market keeps bears hopeful.Second-tier data, risk catalysts are the key to fresh impulse.
Reuters came out with the news conveying a slump in the UK’s house prices to portray pessimism for the GBP/USD. “Britain saw the most widespread house price falls since early in the COVID-19 pandemic last month, as demand from buyers and sales activity slowed in the face of higher borrowing costs, a survey showed on Thursday,” said the news.
Additionally, looming labor strikes in England and Wales push the UK government to witness more hardships even if Prime Minister Rishi Sunak pledged to take more action "to protect the lives and livelihoods" of Britons during months of planned strikes by rail, health and postal workers, per Reuters.drowned the US Dollar the previous day. That said, the benchmark 10-year Treasury bond yields dropped to the lowest levels since early September by losing 3.30% on Wednesday.
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