The Cable tries to keep the rebound from a weekly low of around 1.3850 during Thursday’s Asian session. The pair price has printed the strongest upside in a week following a US dollar downside amid the risk-on mood.
Market sentiment has been better after the US Consumer Price Index (CPI) for August undermined the most since January, not paying attention to talks surrounding the Fed’s monetary policy changes. Earlier in the month, the NFP jobs report also came in lower and supported the easy-money policies of the Fed ahead of the next week’s Federal Open Market Committee meeting.
Also benefitting the pair, buyers were the stronger UK CPI data, improving the odds of Bank of England’s (BOE) tapering concerns. Additionally, the US invite to the UK and the British trade deal talks with Australia and India are some of the extra positives for the GBPUSD prices.
On the other hand, worries of less healthcare benefits for the Scottish people due to the Scottish National Party opposed to the Brexit bill joined the UK’s another delay in post-Brexit border checks and a dispute with the bloc over Northern Ireland to challenge the Cable bulls.
Furthermore, UK PM Boris Johnson’s readiness to mix up the top team to better battle the covid-19 outbreak suggests preparations for the third wave. It should be known that Britain reports 30,597 infections and 201 virus-led deaths as Sky News said, “The latest figures compare with 26,628 cases and 185 more deaths announced yesterday and 38,975 infections and 191 fatalities recorded this time last week.”
Looking forward, US Retail Sales become the key for GBPUSD traders while chatters surrounding covid-19and geopolitics will be important too.
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