The GBP/USD is shedding pips on Tuesday, declining from a one-week high just shy of the 1.2300 handle after UK Purchasing Managers' Index (PMI) figure
The GBP/USD flubbed a one-week high after UK PMIs missed expectations. The Greenback extended its gains after US PMI figures broadly beat forecasts. Next up for the US Dollar will be a speech from Fed head Powell tomorrow, Thursday GDP. s printed red while US PMI data broadly beat the Street, climbing over market forecasts and chalking in accelerating economic activity in the US economy.
Both components of the US PMI forward-looking indicator beatexpectations set by industry analysts. With another batch of Greenback-bullish data in the books, GBP/USD traders will be looking ahead to a speech from Fed Chairman Jerome Powell on Wednesday, who will be giving opening remarks at theMoynihan Lecture in Social Science and Public Policy in Washington, DC. Thursday will also see an advance reading of US Gross Domestic Product figures, alongside US Unemployment Claims.
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