GBP/USD Thursday Market Report
British Pound has reduced its loss percentage against the United States Dollar in the market on Thursday, this most probably is affected by the report of a possible delay in interest rate increase by the Feds.
The pound against the US dollar left its session low position of 14796 and got to 1.4895, but was still 0.58 percent down.
US dollar rejuvenated a bit from its fall following the Wednesday report from the Federal Reserve stating the gradual increase in the interest rate since the Country’s economy is stabilizing.
In a statement, the Feds said they were not going to rush the timing for the increase in interest rate, and that there is not period fixed for this to happen – it will happen but the date is tentative.
British Pound has decreased to a low position for about five years against the United States dollar late on Wednesday following the stagnant percentage 5.7 indicating the jobless rate in the United Kingdom- data was published by National Statistics Office of the UK. This data included the fact that the level of jobless claims reduced to 31,000 in the month before March.
The EUR/GBP pair got to 0.7168 at 1.18 percent. Later on Thursday, investors are waiting to get update on the United States manufacturing data for the state of Philadelphia, including unemployment claims and current account data as well.