GBP/USD Holds Above 1.2700 as US Dollar Loses Recovery Momentum
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#15296a3b ver:0.53

The GBP/USD exchange rate remains above 1.2700 as the US Dollar loses recovery momentum. UK GDP data exceeded expectations, signaling the end of a brief recession. Attention now turns to employment data, with anticipation of an increase in jobless claims. The US Dollar Index is advancing cautiously due to inflation concerns. The Pound to Dollar exchange rate consolidates around 1.2530. Key UK inflation and global PMI data will determine the next move. A break above 1.2700 could lead to a run to the March high of 1.2893. Weak US economic data and the Fed's balance sheet tapering contribute to a bearish view on the dollar. UK data show strength, and if CPI falls more than expected, it could support UK stocks. The US recovery is fading, while growth in Europe and elsewhere is picking up. The USD index consolidates after reaching a weekly high near 105.00. PMI reports and economic data from various countries will influence market sentiment....

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