GBP/USD holds positive ground around 1.2805 in Thursday’s early Asian session. The UK GDP growth numbers rose 0.2% MoM in January vs. -0.1% prior. Investors have priced in 71 basis points in rate cuts this year from 95% at the beginning of the week. The modest uptick of the major pair is supported by the weaker US Dollar . Nonetheless, a cautious mode in the market ahead of the key US event might boost the Greenback and cap the upside of the pair. GBP/USD currently trades near 1.2604, adding 0.
8% fall in January. The stronger-than-expected report might convince the Fed to shift to a less-dovish setting. According to the CME FedWatch Tools, Fed funds futures now see 71 basis points in rate cuts this year from 95% at the beginning of the week. Looking ahead, the US February Retail Sales data will be the highlight on Thursday. This event might trigger volatility in the market. On Friday, the UK Consumer Inflation Expectations will be released.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: DailyFX - 🏆 305. / 63 Read more »