GBP/USD at over three-week high; Hawkish BoE and strong UK GDP contribute to upside
Mumbai, Oct. 16 -- The British pound is holding gains at over three-week high against the dollar on Friday as dollar pulls back sharply overseas. Fed Chair Kevin Warsh's neutral remarks earlier today, which, along with the recent sharp decline in US bond yields, dragged the US Dollar (USD) to a one-and-a-half-week low. Meanwhile, hawkish remarks from Bank of England Governor Andrew Bailey and stronger UK Gross Domestic Product data are seen contributing to the bullish tone surrounding the GBP/USD pair. Governor Andrew Bailey said there was limited evidence that higher energy costs were feeding into wages and broader prices, but warned it was too early to assess the full impact. Other policymakers have urged earlier action against inflatio...
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