GBP/USD dwindles and falls toward 1.1800 on mixed US data, and Jackson Hole looming – by christianborjon GBPUSD UnitedStates Fed Housing Inflation
, with market players’ eyes “laser-focused” on Fed chief Jerome Powell’s speech. At the time of writing, the GBP/USD is trading at 1.1803.
In the meantime, the US Dollar Index resumed its upward trajectory, though marginally up by 0.03%, at 108.523, while US T-bond yields rose. US economic data revealed during the last couple of weeks has been mixed, though in tone with an ongoing deceleration of the US economy. Earlier, Durable Good Orders for July remained unchanged at 0% MoM, missing estimations, but June’s reading was upward revised to 2.2%, showing consumer resilience. Orders excluding Defense and Transportation rose by 0.4%, higher than estimates of 0.3%.
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