Pound Sterling finds it difficult to attract bulls
GBP/USD has met renewed bearish pressure in the European morning and declined towards 1.2400 following a quite asian session. The negative shift seen in risk mood seems to be helping the US Dollar (USD) hold its ground and the pair could continue to react to changes in risk perception in the absence of high-tier data releases.
On monday, the usd struggled to build on Friday's gains after the ISM's Services PMI caused markets to lean toward a no change in the Federal Reserve's(Fed) policy rate in June.
The headline Services PMI declined to 50.3 from 51.9 in April. More importantly,the prices Paid Index of the survey fell to 56.2 from 59.6 to highlight a softening input inflation. Finally, the Employment Index dropped below 50, showing a contraction in the number of people employed in the service sector.
GBP/USD has met renewed bearish pressure in the European morning and declined towards 1.2400 following a quite asian session. The negative shift seen in risk mood seems to be helping the US Dollar (USD) hold its ground and the pair could continue to react to changes in risk perception in the absence of high-tier data releases.
On monday, the usd struggled to build on Friday's gains after the ISM's Services PMI caused markets to lean toward a no change in the Federal Reserve's(Fed) policy rate in June.
The headline Services PMI declined to 50.3 from 51.9 in April. More importantly,the prices Paid Index of the survey fell to 56.2 from 59.6 to highlight a softening input inflation. Finally, the Employment Index dropped below 50, showing a contraction in the number of people employed in the service sector.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.