GBPUSD Exchange Rate

The University of Michigan released revised data on Friday showing consumer sentiment in the U.S. deteriorated by slightly less than previously estimated in the month of July. The report said the consumer sentiment index for July was upwardly revised to 66.4 from the preliminary reading of 66.0. Economists had expected the reading to be unrevised.

The U.S. dollar climbed against its major counterparts in the New York session on Friday, after a data showed that the personal consumption expenditures price index crept up in line with economist estimates in the month of June.

Consumer prices in the U.S. crept up in line with economist estimates in the month of June, according to a highly anticipated report released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index inched up by 0.1 percent in June after coming in unchanged in May. The uptick by the index matched expectations.

Consumer prices in the U.S. crept up in line with economist estimates in the month of June, according to a highly anticipated report released by the Commerce Department on Friday.

Pound/dollar declined 0.3%, with MACD bearish; Bitcoin dipped slightly, Williams negative; Oil/dollar surged 1.1%, CCI oversold; Aussie/dollar fell 0.5%, Stochastic RSI oversold. Trump's campaign raised $3M in crypto, China eases lending, oil at $82 boosted by US data, but China concerns cap gains.

Wall Street continues to face downside risks, with the Nasdaq and S&P 500 sliding in yesterday's session while the Dow Jones eked out a marginal gain. The small-cap Russell 2000 index remains on an upward trajectory, indicating capital rotation away from mega-cap stocks, tempered by AI jitters.

GBP/USD pair is down to 1.2892 on Thursday. Selling intensified on the 18th of July. Since then, GBP has remained under pressure, although it is making attempts to stabilise.

The US Dollar plummeted against the Japanese Yen to 155.60 from 157.37. Rising expectations of a BOJ rate hike at their policy meeting next week weighed on the Greenback.