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Hello everyone, today Avatrade Aihua Foreign Exchange will bring you "[Aihua Foreign Exchange]: The US dollar is weak, and the pound sterling exchange rate against the US dollar rebounded to around 1.3400". Hope it will be helpful to you! The original content is as follows:
Ihua Foreign Exchange APP News--In the US session on Monday (April 28), the British pound started well this week and is expected to perform strongly at the end of April. As the dollar continued to weaken and the risk appetite increased, the pound rose by about 0.63% intraday. The pound traded around 1.3400 after rebounding from a daily low of 1.3279. This week, traders will usher in a key UK housing data and a busy U.S. economic data release schedule. Traders are optimistic about the stronger UK prospects and the decline of the Federal Reserve's hawkish stance, so they favor the pound, which rose sharply against the US dollar. Wall Street stock market trading recorded a rise, which posed a disadvantage to demand for safe-haven assets such as the US dollar. The release of U.S. economic data is sparse, and Fed officials entered a silent period before May's meeting, which has made traders pay more attention to the release of UK data. The United Kingdom Industry Federation (CBI) disclosed that retail sales figures remained negative in April, but improved from -41 in March to -8, the highest level since October last year. The market expects the Bank of England (BoE) to not be as dove as expected, which has driven the pound to rise against the dollar. Interest rate probability shows that market participants expect a 87 basis point easing by the end of this year. In the United States, the market expects the Federal Reserve to cut interest rates by 88 basis points. The pound is expected to rise further against the dollar as investors remain concerned about U.S. trade policy and recent weakness in the dollar. Barclays analysts remain optimistic about the pound, especially against the euro. Analysts said: "Compared with the euro zone, the UK's direct tariffs are www.avatradescn.comMore resilience means less damage to demand, offsetting the drag caused by more limited fiscal space. "This week, the UK's economic data release schedule will be based on housing price data. On the contrary, in the United States, traders are paying attention to the GDP data for the first quarter of 2025, the Fed's favored inflation indicator CorePCE Price Index (CorePCE), the Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) and the non-farm employment data in April.
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