GBP/USD outperforms USD as Trump backs immediate rate cuts

The Pound Sterling (GBP) jumps above 1.2400 against the US Dollar (USD) on Friday. The GBP/USD gains as the US Dollar is onset to end the week with the highest losses in almost two months. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, slumps to near 107.60, the lowest level in over a month after United States (US) President Donald Trump signaled the need for immediate interest rate cuts by the Federal Reserve (Fed) in his commentary at the World Economic Forum (WEF) on Thursday. Read More…

GBP/USD rises to near 1.2400 as Trump asks Fed for rate cuts

GBP/USD extends its gains for the second successive day, trading around 1.2400 during the Asian hours on Friday. The pair’s upside could be attributed to the remarks from US President Donald Trump on late Thursday. Read More…

GBP/USD churns near familiar levels ahead of Friday’s PMI data

GBP/USD coiled near the 1.3550 level on Thursday as Cable traders functionally ignored a thin economic calendar and a lack of meaningful information to push the pair decisively in either direction. Headlines from US President Donald Trump ruled the roost on most traders’ newsfeeds, but the broader market impact remains limited as Trump struggles to pick an overall objective. Read More…