Pound Sterling Price News and Forecast

GBP/USD edges lower on Fridays Asian trading session. The pair made a high near 1.3950 in the previous session but failed to holds the gains.

The US Dollar Index (DXY), which tracks the greenback performance against its six major rivals, trades above 92.30. The greenback gains as investors assessed Fed‘s official’s hawkish comments.

US Fed Chair Richard Clarida said on Wednesday that interest rates hikes could be met in late 2021 or early 2022.

In addition to that, the US Initial Jobless Claims fell for the second week, the data came at 385k in line with market expectations.

On the other hand, the sterling remained unaffected after the initial reaction to the Bank of England (BOE) decision in its latest monetary policy meeting.

BOE kept its interest rates at a historic low of 0.1% and its bond-buying program unchanged despite expectations of a strong economic recovery in 2021. The policymakers raised its inflation forecast as widely expected by market experts.

As for now, investors await the US Nonfarm Payroll to take fresh trading impetus.