GBP/USD looks set to extend to 1.30 in this soft Dollar environment – ING GBPUSD UnitedKingdom BOE EURGBP Banks
GBP/USD has risen to the highest levels since last April on the back of some strong UK wage data for May. Economists at ING analyze the pair’sThe upward surprise to UK wage growth is partly down to backward revisions. But that is not a huge comfort because looking at the private sector, which is what the BoE focuses on, we have seen another big MoM increase in pay. Whether that is partly because of the ongoing passthrough of the new National Living Wage , is not clear.
GBP/USD looks set to extend to 1.30 in this soft Dollar environment, while EUR/GBP can retest the lows near 0.8520.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD trades below the YTD top amid modest USD strength, holds above 1.2800The GBP/USD pair kicks off the new week on a subdued note and consolidates its recent gains to the highest level since April 2022, around mid-1.2800s
Read more »
Weekly Forex Forecast \u2013 NASDAQ 100 Index, GBP/USD, USD/JPYThe difference between success and failure in Forex / CFD trading is highly likely to depend mostly upon which assets you choose to trade each week and in which direction. Get our weekly Forex forecast here:
Read more »
GBP/USD Price Analysis: Holds above the 1.2800 mark, eyes on the 1.2850 levelThe GBP/USD pair struggles to capitalize on Friday's upward move and remains above the 1.2800 area during early European hours on Monday. The major pa
Read more »
GBP/USD: Firm UK data will help slow losses below 1.28 – ScotiabankGBP/USD slips back from another test of 1.2850. Economists at Scotiabank analyze Cable outlook. Yields are bullish Yield support suggests GBP losses a
Read more »
GBP/USD hits YTD high amid USD weakness, cautiously eyes 1.3000 amid BoE speculationsGBP/USD climbs to a new year-to-date (YTD) high at 1.2867, amid overall US Dollar (USD) weakness, after the major printed a daily low of 1.2750. The G
Read more »
GBP/USD could break above 1.2900 – UOBFurther upside could motivate GBP/USD to challenge and even surpass the 1.2900 yardstick, according to UOB Group’s Economist Lee Sue Ann and Markets S
Read more »