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GBP/USD breaks support after mixed UK CPI and PMI numbers
The GBP/USD price has dropped for the past five consecutive days partly because of the stronger US dollar. It is trading at 1.3712, which is 3.80% below the year-to-date high of 1.4244. The GBP/USD is falling as forex traders reflect on the relatively mixed economic numbers from the UK. On Tuesday, data by the Office of National Statistics (ONS) showed that the unemployment rate improved from 5.1% in December to 5.0% in January. This improvement happened even as the country dealt with the lockdown to curb the new coronavirus variant. On Wednesday, data revealed that the UK is not facing a substantial inflation risk ... (full story)