GBP/USD RISES AS THE US DOLLAR COMES UNDER PRESSURE
GBP/USD RISES AS THE US DOLLAR COMES UNDER PRESSURE
The British pound (GBP) has shown resilience against the US dollar (USD), continuing its upward momentum from April 8 and trading near 1.3280 during Friday's Asian session.
GBP/USD is trading around 1.3280, reflecting a strong bullish trend.
Concerns over the economic impact of US tariffs have led to a weakening of the USD.
Dovish remarks from Federal Reserve officials, indicating a cautious approach to interest rate hikes, have contributed to the USD's decline.
Recent economic data from the UK has shown stable economic growth, with a modest recovery in GDP.
Inflation has been slowing, easing pressure on the Bank of England.
Wage increases have been robust, supporting consumer spending.
Job vacancies have declined ahead of a planned employer tax rise, indicating a cooling labor market.
A risk-on market sentiment, fueled by optimism over potential US-UK trade deals and easing UK gilt yields, has supported the pound.
Market activity has been subdued due to the upcoming Easter holiday, leading to lower trading volumes.
