GBP/USD rallies amidst Greenback weakness on upbeat market mood

The Pound Sterling (GBP) rallies against the\xa0US Dollar\xa0(USD) even though the latest round of UK\xa0economic data\xa0didn’t support the advance of Sterling, but overall weakness on the Greenback keeps most G8 FX currencies underpinned. The\xa0GBP/USD\xa0is trading at 1.2135 after sliding to a daily low of 1.2037 earlier in the European session. Read More...

The Pound Sterling (GBP) attracts bids amid a correction in the\xa0US Dollar\xa0after weaker-than-anticipated US ADP Employment Change data and a rebound in the UK\'s\xa0Services PMI data. S&P Global reported UK Services PMI at 49.3, higher than expectations and the former release of 47.2. The\xa0economic data\xa0failed to capture the 50.0 threshold for the second time in a row but managed to improve the appeal for the Pound Sterling. Read More...

Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group note\xa0GBP/USD\xa0could slip back to the 1.2000 region in the short-term horizon. Read More...