Traders are closely monitoring the Pound Sterling as it remains steady near the 1.2950 mark against the US Dollar. This comes as market participants are digesting the latest US inflation figures amidst concerns about a possible escalation in trade tensions following the US’s move to impose car tariffs. Currently, the GBP/USD exchange rate stands at 1.2948.
In Friday’s North American session, the Pound Sterling has regained some of its earlier losing ground and is now trading positively around 1.2960 against the US Dollar. The currency pair has edged upwards following the release of the US Personal Consumption Expenditure (PCE) Price Index data for February.
Today’s Asian trading hours see the GBP/USD pair maintaining its position around 1.2950 after recent gains. Technical analysis indicates that the pair is following a bullish trajectory, consolidating within an upward channel pattern on the daily chart.
