Are you wondering about GBPUSD today?
Currently, GBPUSD is undergoing a slight upward correction, trading around the level of 1.270 and rising 0.12% for the day.
The British Pound (GBP) is being supported by the hawkish stance of the Bank of England (BoE), suggesting that monetary policy may need to be tightened in the long term due to elevated inflation figures in the UK.
Furthermore, the flash PMI index for the UK released on Friday indicated that growth momentum will regain some strength towards the end of the year, which would help the economy avoid a recession in Q4. This, coupled with the weakness in the US Dollar (USD), serves as a supportive factor for the GBP/USD pair.
Currently, GBPUSD is undergoing a slight upward correction, trading around the level of 1.270 and rising 0.12% for the day.
The British Pound (GBP) is being supported by the hawkish stance of the Bank of England (BoE), suggesting that monetary policy may need to be tightened in the long term due to elevated inflation figures in the UK.
Furthermore, the flash PMI index for the UK released on Friday indicated that growth momentum will regain some strength towards the end of the year, which would help the economy avoid a recession in Q4. This, coupled with the weakness in the US Dollar (USD), serves as a supportive factor for the GBP/USD pair.
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