GBP/USD grinds higher past 1.2100 ahead of UK/US GDP – by anilpanchal7 GBPUSD GDP RiskAppetite Currencies CentralBanks
pair dropped to the lowest levels in three weeks the previous day amid a broad US Dollar rebound. However, mixed updates and a retreat in the Treasury bond yields seemed to have weighed on the quote of late. On the contrary, upbeat prints of the British data lure pair buyers ahead of the key statistics.
On the negative side, Reuters came out with the news saying, “Thousands of ambulance workers in England and Wales walked out over pay on Wednesday, increasing the strain on a state-funded health service a day after nurses went on strike, as government ministers advised the public to avoid taking risks.”
On Wednesday, the US Conference Board’s Consumer Confidence jumped to the eight-month high of 108.3 for December, compared to the market forecasts of 101.0 and the revised prior readings of 101.40. However, the US Existing Home Sales for November, 4.09M MoM compared to 4.2M expected and 4.43M prior.
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