<\/p>\n
The GBP\/USD<\/a> pair trades on a weaker note\u00a0around\u00a01.2502\u00a0during\u00a0the early Asian trading hours on Friday. The modest rebound of the US Dollar<\/a> (USD) weighs on the\u00a0major\u00a0pair despite weaker US GDP growth numbers. The US Personal Consumption Expenditures (PCE) Price Index data on Friday will be in the spotlight.\u00a0<\/p>\n On Thursday, the US economy grew at a slower pace of 1.6% in the first quarter (Q1) of 2024, compared to 3.4% in the previous reading. This figure came in weaker than the market expectation of 2.5%. However, prices have remained sticky, with the data on Thursday revealing the Personal Consumption Expenditures Price Index in Q1 climbing at a 3.4% annual rate, above the\u00a0Fed’s\u00a02% target. The Greenback has dropped to two-week lows\u00a0near mid-105.00\u00a0after\u00a0the release of\u00a0weaker-than-expected Q1 GDP growth and a hotter-than-expected inflation reading.\u00a0<\/p>\n According to the CME FedWatch tool, financial markets have priced in less than 10% odds that the US Federal Reserve (Fed) will cut interest rates<\/a> in June, while the probability of a September rate cut dropping below 58%. Investors will take more cues from another inflation report on Friday. The US PCE\u00a0is expected\u00a0to\u00a0show an increase of\u00a00.3% MoM in both headline and core PCE figures. On an annual basis, the headline PCE and Core PCE figures\u00a0are estimated\u00a0to show a rise of 2.6% and 2.7% YoY, respectively.\u00a0<\/p>\n On the\u00a0GBP\u2019s\u00a0front, the Bank of England (BoE) Governor Andrew Bailey and other BoE<\/a> policymakers stated that inflation in the United Kingdom dropped in line with the central\u00a0bank’s\u00a0expectations\u00a0and\u00a0the risk of elevated inflation had reduced, paving the way for a rate cut. The market anticipates that the UK central bank will wait until next quarter to lower borrowing costs,\u00a0and\u00a0it will begin before the US Fed<\/a>. This, in turn, might cap the upside of the Pound Sterling (GBP).\u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" GBP\/USD snaps the three-day winning streak near 1.2502 in\u00a0Friday\u2019s\u00a0early Asian session.\u00a0 The US economy grew\u00a0at a slower pace of\u00a01.6% in Q1 2024, compared to 3.4% in the previous reading.\u00a0 The expectation that the BoE will cut\u00a0rates before the US Fed might exert some selling pressure on the GBP.\u00a0 The GBP\/USD pair trades on a weaker […]<\/p>\n","protected":false},"author":2,"featured_media":10761,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,641,255,250,333,277,252,247,253,249,256,254],"class_list":["post-290096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gbpusd","tag-gta","tag-looks-rare","tag-macroeconomics","tag-majors","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/290096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=290096"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/290096\/revisions"}],"predecessor-version":[{"id":290098,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/290096\/revisions\/290098"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/10761"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=290096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=290096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=290096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}