The GBP/USD pair dropped to its lowest level since April, reaching 1.2352, reflecting the British pound's weakness against a strengthening U.S. dollar and signaling a bearish outlook.
U.S. economic data had a clear impact on the dollar's performance throughout the week, with a decline in initial jobless claims supporting the possibility of the Federal Reserve maintaining its tight monetary policies.
The British pound is under pressure from local economic issues, primarily slowing growth and rising inflation, diminishing its appeal against the more stable U.S. dollar.
Investors are closely watching the U.S. Manufacturing PMI data expected at 48.4, which could further boost the dollar if it exceeds expectations, impacting the GBP/USD pair.
Collection
[
|
...
]