Sterling outperforms US dollar as Trump supports immediate interest rate cuts
The British pound rose above the 1.2400 level against the US dollar on Friday. The GBP/USD pair rose as the US dollar was set to end the week with its highest losses in almost two months. The US Dollar Index (DXY), which tracks the value of the greenback against six major currencies, fell to nearly 107.60, the lowest level in more than a month after US President Donald Trump signaled the need for immediate interest rate cuts by the Federal Reserve. . The Federal Reserve (Fed) in its comments to the World Economic Forum (WEF) on Thursday. Read more…
GBP/USD rises to near 1.2400 as Trump asks Fed to cut interest rates
The GBP/USD pair continues its gains for the second day in a row, trading around the 1.2400 level during Asian hours on Friday. The pair’s upward trend can be attributed to US President Donald Trump’s statements late on Thursday. Read more…
GBP/USD is moving near familiar levels ahead of Friday’s Purchasing Managers’ Index (PMI) data
The GBP/USD pair hovered near the 1.3550 level on Thursday as cable traders functionally ignored a weak economic calendar and a lack of critical information to push the pair decisively in either direction. Headlines of US President Donald Trump have dominated most traders’ news feeds, but the broader impact on the market remains limited as Trump struggles to choose a public target. Read more…
