Pound Sterling Price News and Forecast: GBP/USD needs to clear 1.2300 to keep buyers interested

The GBP/USD pair gains some positive traction for the sixth successive day on Wednesday and climbs to a near three-week high during the Asian session.

GBP/USD advances to multi-week high, focus remains on US PPI and FOMC minutes Spot prices currently trade just below the 1.2300 round-figure mark and remain well supported by the prevalent selling bias surrounding the US Dollar . The recent dovish remarks by several Federal Reserve officials forced investors to scale back their bets for more aggressive policy tightening by the US central bank and continue to drag the US Treasury bond yields lower.

Bostic said that there was no need for one more rate hike and Daly noted that the recent increase in US yield could be seen as the equivalent of another rate increase. Read more... Pound Sterling refreshes two-week high ahead of UK factory data The Pound Sterling continues its rally into a sixth day on Wednesday as investors shift their focus to United Kingdom factory data for August, which will be published on Thursday.

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