Forex Market: GBP/USD recoups earlier losses on upbeat UK data, while negative interest rate uncertainty continues to persist

May 21, 2020 11:39 am
GBP/USD pared earlier losses during the late phase of the European trading session on Thursday, as better-than-expected UK manufacturing and services numbers by IHS Markit introduced some optimism following a string of dismal macro data released earlier. Preliminary data showed that UK’s Manufacturing Purchasing Managers’ Index rebounded more than expected in May to a reading […] Read more

Forex Market: GBP/USD remains rangebound as weak UK inflation data heightens negative interest rate probability

May 20, 2020 11:37 am
GBP/USD held steady during late European trade on Wednesday, recouping part of earlier losses, but startling UK inflation data may still weigh on the Sterling, as it supports the prospect of negative interest rates being introduced by Bank of England to prop up the pandemic-ravished economy. Earlier Wednesday, the Office for National Statistics reported that […] Read more