By tredu.com • 6/4/2025
Tredu
The GBP/USD pair continues to climb modestly, currently trading around 1.3520 during early Wednesday Asian trading. The US Dollar remains under pressure as investor sentiment leans into the "Sell America" theme due to ongoing tariff tensions and slowing US economic momentum.
April’s JOLTS Job Openings surprised to the upside, printing 7.39 million versus expectations of 7.1 million. This slight positive was not enough to shift the overall bearish tone around the USD.
📌 Explore more: How US Labor Data Impacts the Dollar
During the Monetary Policy Report Hearings, BoE Governor Andrew Bailey reiterated the central bank’s stance that rate cuts are more likely than hikes, yet he acknowledged that uncertainty remains high.
While some BoE members fear inflation persistence, others worry about the economic impact of holding rates too high for too long. This policy divergence suggests upcoming moves will be data-driven, with the June inflation and jobs reports now in sharp focus.
📌 Related post: BoE Policy Outlook – What Traders Should Know
Investors are also watching for the outcome of a possible US-China meeting, as President Trump and President Xi Jinping are expected to resume discussions amid accusations of tariff breaches. Any progress could stabilize sentiment and briefly lift the USD.
📌 Trending: Geopolitical Risk and Its Impact on FX
Unlock the secrets of professional trading with our comprehensive guide. Discover proven strategies, risk management techniques, and market insights that will help you navigate the financial markets confidently and successfully.