GBPUSD SLUMPS UNDER 1.2700 MARK, BARRAGE OF UK DATA DUE

Published on Jan 16, 2024 12:08

UK pound slumped against the US dollar today following a reversal in last session as 1.2800 mark acted as a stiff resistance for the pair. GBPUSD pair is currently quoting at 1.2685, down 0.53% on the day and approaching one week low as the US dollar index has zoomed up near 102.80 mark. Focus stays on the likely trajectory of the Federal Reserve interest rates though a series of important economic pointers from the UK are heavy on the sentiments this week for the GBPUSD pair. Today will mark the release of UK Claimant count and unemployment rate followed by BOE Governor Andre Bailey statement. Tomorrow will see the release of the all-important UK inflation readings. Meanwhile, on the NSE, the GBPINR futures are quoting at 105.27, down 0.26% on the day amid a volatile trading session so far.