GBP/USD climbs above 1.2100 on upbeat mood, soft USD GBPUSD Majors Macroeconomics Technical Analysis
China’s relaxing Covid-19 restrictions keep sentiment positive.Sterling advances sharply following a European choppy trading session, bouncing off the day’s lows around 1.2000, posing a challenge to the 1.2100 figure in the New York session. At the time of writing, the GBP/USD is trading at 1.2108.Investors’ mood is mixed amidst the North American session. The lack of US economic data, with the US Redbook released around 13:55 GMT, coming at 9.6% YoY, compared to the previous reading of 7.
Additionally, authorities started to issue passports and would officially reopen its borders on January 8. Even though the mood shifted positively, fears that inflationary pressures would rise keep traders wary., a gauge of the buck’s value against a basket of peers, losses 0.28%, down at 103.984, undermined by falling US Treasury bond yields.will feature Initial Jobless Claims for the week ending on December 23, ahead of the release of the Chicago PMI on Friday.
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