GBP/USD

The GBP/USD pair is down by more than 0.45% even after Markit released strong manufacturing data from the UK. The decline makes the sterling the second-worst performing currency in the dollar index after the Swiss franc, which is down by 0.80%. UK manufacturing activity robust While the UK has a vast manufacturing sector, its share of the entire economy is relatively small. The sector employs more than 2.7 million people, accounting for about 11%...

The British pound enters August being in the offensive. The GBP/USD pair spiked by more than 5.5% in July, its best month in more than a decade. The British pound index, on the other hand, rose by more than 5%. BOE interest rate decision eyed The biggest pound-related news this week will be on the BOE interest rate decision that will happen on Thursday. This meeting comes at a time when the number of coronavirus cases in the UK has been falling....

July was a bad month for the US dollar index (DXY). It dropped by more than 4%, making it its worst month in more than a decade. On the euro, Norwegian krone, Swedish krona, sterling, and yen had their best months this year. So, will the dollar weakness continue? Let us look at the key events to watch in the economic calendar this week. Nonfarm payrolls On Friday, the Bureau of Labour Statistics (BLS) will release the US nonfarm payrolls numbers...

GBP/USD price gained nearly 5.5% in July to market the best month since 2009. The dollar fell to multi-year lows against a range of currencies, with the dollar index closing the month 4.1% lower.  Fundamental analysis: Sterling rises on a broad dollar weakness Sterling took advantage of the broad dollar weakness to push the dollar above $1.30. A strong performance in July means the gains that the pound made against the greenback are the biggest i...

The GBP/USD is up by 0.25% today as investors react to the overall dollar weakness and the upbeat housing data from the UK. The pair is trading at 1.3130, which is its highest level since March this year. Further, the pair is having its best month since October 2019. UK house price index jump The GBP/USD after Nationwide Society released strong house price index data. The numbers showed that house prices rose to 1.5% in July as demand for houses...

The uptrend of the GBP/USD pair continued today as traders reacted to upbeat numbers from the Bank of England (BoE). The pair is trading at 1.2973, which is the highest it has been since March 10 this year. UK consumer lending accelerates The GBP/USD pair reacted to strong lending numbers from the BoE. The data showed that households and businesses continued to increase their savings in June. Sterling money increased by £16 billion in June. In th...