GBP/USD keeps to weekly tops

GBP/USD keeps to weekly tops

On Friday, the GBP/USD pair managed to extend its overnight trend into Asia. It’s because the bulls took a breather ahead of a bunch of crucial American economic reports due later this day.

The spot is still better bid so far this trading session. It consolidates the run-up to new weekly peaks hit the previous day at 1.2955. The US dollar keeps remaining mostly subdued amid quite mixed remarks from the Fed Chair Yellen. However, the downside is still capped, following renewed demand for Treasury yields, after Janet Yellen nearly indicated the beginning of balance sheet normalization process in September.

Financial markets managed to shrug off renewed worries sparked over the UK political scenario, amid the Brexit deal, after the British Government told it will require paying EU exit bill.  

The American inflation figures are going to hold the key for the major US bank’s next move as well as subsequent greenback price-action because the Fed policymakers have already expressed their worries over inflation undershooting the key bank’s goal.

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