The GBP/USD pair edged lower earlier on Friday after data published by the Office for National Statistics recorded a nosedive in retail sales volumes in July.
GBP/USD Darts Higher in the Wake of BoE’s Dovish Ambience
The GBP/USD pair was trading higher ahead of the US weekly initial jobless claims. The BoE published its monetary policy decision for August earlier today.
The GBP/USD pair remained unchanged ahead of United Kingdom’s Manufacturing Purchasing Managers Index (PMI) for July. The pair ended the previous week lower.
GBP/USD pair increased after the release of positive Consumer Price Index (CPI) data in the UK. Jerome Powell is yet to appear before the Congress later today.
GBP/USD is on a rebound, although it is experiencing resistance at 1.3800. Investors are focused on the UK GDP data and the Fed monetary policy report later in the day.