GBP/USD picks up bids around 1.2600 as BOE and Brexit chatters join US dollar retreat
GBP/USD marches confidently above 1.2600 as it reverses the first daily loss in five during Wednesday’s quiet morning in Asia. That said, the cable refreshed daily top around 1.2610 by the press time. US ISM PMIs, qualitative catalysts could determine short-term moves.
GBP/USD outlook: Pound eases on weak data, firmer dollar
Cable holds in red on Tuesday, as dollar rose on month-end demand, while weaker than expected UK mortgage approvals data added to a negative near-term tone. Traders also worry that soaring inflation may significantly hurt consumer demand that would further pressure pound.