- GBP/USD climbs above the 1.2500 level, gaining for a second straight day.
- Disappointing PMI data from both the UK and US fails to weigh on the pair.
- A shift toward risk appetite weakens demand for the US Dollar, aiding the Pound’s recovery.
GBP/USD Slides Below 1.2500 Despite Reaching Four-Day High on Tariff Speculation
The Pound Sterling climbed to a four-day high of 1.2575 on Tuesday, marking its largest gain in three days. This rise followed reports from the Washington Post that US President-elect Donald Trump’s advisers were considering targeted tariffs, which pressured the US Dollar. However, the pair has since retreated, trading at 1.2495, down 0.12%.
GBP/USD Approaches 1.2550 as US Dollar Weakness Supports Gains
GBP/USD extends its upward trajectory for a third straight day, trading around 1.2530 during Tuesday’s Asian session. The pair’s rise is fueled by a weakening US Dollar (USD). Attention now shifts to the US ISM Services PMI release later in the day, followed by the Federal Reserve’s December policy meeting minutes on Wednesday.
GBP/USD Advances for Second Consecutive Day as Pound Rebounds
GBP/USD posts a second day of gains, starting the new trading week up 0.7% and reclaiming the 1.2500 level after last week’s dip below 1.2400. While PMI figures fell short in both the UK and US, a growing risk-on sentiment dampened safe-haven demand for the US Dollar, supporting the pair’s recovery.
