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British Pound Rallies Higher on Upbeat UK Services PMI Data

The British pound today rallied higher after the release of the UK Services PMI for May by IHS Markit, which beat expectations by a significant margin. The positive PMI data served to raise expectations of a rate hike by the Bank of England in the near future as the country’s GDP growth rebounds in the current quarter.

Pound Shows Weakness Despite Supportive Domestic Data

The Great Britain pound attempted to rally today but failed. Currently, the sterling trades at the opening level against some rivals and fell far below it versus others. Thursday’s macroeconomic data was generally positive, but that did not help the currency.

GBP/USD Rallies Then Declines on Testimonies by BoE Members

The GBP/USD currency pair today retreated from its overnight rally after encountering resistance just before the crucial 1.3500 psychological level. The currency pair was on an uptrend from the early European session before reversing in the mid-European session following testimonies by Bank of England policymakers before the UK Parliament’s Treasury Select Committee.

British Pound Remains Depressed on Mixed UK Jobs Report

The British pound today remained depressed against the US dollar despite the release of the mostly positive UK labour market report for May. The increase in the 10-year US Treasury yields to levels above the crucial 3.00% level exerted downward pressure on the cable restricting any positive moves by the currency pair.

British Pound Drops Against US Dollar on BoE Rate Decision

The British pound today dropped significantly against the US dollar after the Bank of England left its monetary policy unchanged to the disappointment of many investors. The GBP/USD currency pair had initially rallied higher in the early European session despite the release of weak UK trade balance data in anticipation of the BoE rate decision.

Sterling Pound Declines on Weak UK Manufacturing PMI

The Sterling pound today declined significantly against the US dollar following the release of the Markit/CIPS UK Manufacturing PMI in the early European session. The pound’s decline was further accelerated by the US dollar’s recovery as it extended its gains at the start of the new month.

Pound Plunges as Economic Growth Slows Beyond Expectations

The Great Britain pound took a beating today as the vast majority of macroeconomic reports released over the Friday’s trading session were very disappointing. Markets primarily focused on the slowing economic growth, though other indicators were not impressive either.

Pound Rallies Higher Boosted by Improved Public Sector Finances

The British pound today rallied slightly against the US dollar following the release of upbeat UK public sector finances report early in the European session. The GBP/USD currency pair was on track to reverse the massive decline that occurred during the last 5 trading sessions where the pair lost over 450 points.

British Pound Declines on Weak UK Retail Sales Data, Later Rallies

The British pound today declined against the US dollar following the release of disappointing UK retail sales data in the early European session. However, the pound recovered almost immediately and went on to hit a daily high in the mid-European session, before declining from the early American session.

British Pound Declines Against US Dollar on Weak UK Inflation Data

The British pound today dropped significantly against the US dollar following the release of disappointing UK Consumer Price Index data in the early European session. The pound’s decline started during yesterday session after the release of weak UK wages report and upbeat US housing report, which made the pound drop from its post-Brexit highs.

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