GBP/USD rebounds on risk appetite improvement, BoE’s rate hike expectations

GBP/USD erases last Friday’s losses and climbs above the 1.2750 figure though it remains trading subdued amidst the lack of catalyst involving the Ste

rling and the US Dollar . US Treasury bond yields rise, but the US Dollar is pressured ahead of the Jackson Hole Symposium. At the time of writing, the GBP/USD is trading at 1.2760, registering gains of 0.22%.In the meantime, market players’ mood remains positive, as earnings from the chipmaker NVIDIA are set for release on Wednesday.

In the week ahead, the UK economic docket will feature the CBI Industrial Trend Orders, S&P Global PMIs, and the GfK Consumer Confidence. On the US front, the agenda will feature Fed speakers, housing data, S&P Global PMIs, Durable Good Orders, unemployment claims, and the Federal Reserve Chair Jerome Powell’s speech on Friday.The GBP/USD price action remains neutral to downward biased, capped by the 50-day Simple Moving Average at 1.

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