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GBP/USD needs an impulse from moderate US figures and dovish Fed comments to continue advancingNEWS |
8/4/2021 9:39:08 AM GMT | By FXStreet Insights Team
GBP/USD has been making its way higher after retreating from the peak earlier on as UK covid cases continue falling. Attack on 1.40 coming? Upbeat UK data supports gains, in the view of FXStreet’s Analyst Yohay Elam.
Cable trend is positive
“UK COVID-19 cases have extended their decline, and seem to be on the verge of breaking below the 20,000 infections/day barrier. Despite the increase in deaths from the deadly disease, it seems that Britain s reopening had little effect on spreading the virus.”
Synopsis
Lockdowns across the country to curb the second wave of Covid dampened demand, prompting firms to cut jobs at the fastest pace since October, according to Nikkei/IHS Markit Services Purchasing Managers Index.
iStock
Activity in India s services sector contracted in May- to 46.4 from 54.0 in April- for the first time in eight months.
Lockdowns across the country to curb the second wave of Covid dampened demand, prompting firms to cut jobs at the fastest pace since October, according to Nikkei/IHS Markit Services Purchasing Managers Index.
Overall demand contracted at the sharpest rate since August, with foreign demand shrinking at the fastest pace since November.