Author name: Editor

The U.S. dollar has pushed to new highs ahead of the weekend, driven by strong economic data, Fed caution on inflation, and safe-haven demand amid global uncertainty. EUR/USD tests support near 1.0650 amid ECB dovishness and German growth concerns. GBP/USD faces pressure from UK political risks and BoE caution, eyeing 1.2450 support. USD/CAD reflects commodity sensitivity while USD/JPY remains influenced by BoJ policy divergence. Traders should prepare for volatility as key data and central bank guidance loom.

GBP/USD slid to a two-month low after UK GDP stalled in April, fueling bets on an earlier BoE rate cut. Weak economic data adds pressure on the pound amid diverging monetary policies as markets price in possible easing by the Bank of England in Q3 2024.

GBP/USD slides to a 2-month low near 1.2380 as weaker-than-expected UK GDP data fuels bets on BoE rate cuts by September. Market now sees ~60% chance of a 25bps cut amid sluggish growth, stagnant services & rising political uncertainty. #GBPUSD #BOE #UKGDP #ForexNews @FxWirePro @EconoTimes