The Pound Sterling exhibits strength against the US Dollar as Fed’s Powell sees softness in the US labor market strength. The Fed chief did not guide any specific rate-cut path. UK GDP for May and US Inflation for June have come under the spotlight. The Pound Sterling edges higher against the US Dollar in Wednesday’s early London session after a mild correction from almost a four-week high of 1.2850 this week.
Economists expect that the economy expanded by 0.2% after remaining unchanged in April. Industrial and Manufacturing Production are expected to have grown on a monthly and annual basis after declining in April. Technical Analysis: Pound Sterling aims to hold 1.2800 The Pound Sterling aims to hold the key figure of 1.2800 against the US Dollar.