The pound appreciated by more than 1.5 percent to a fresh 6-week high of 1.5443 against the US dollar around 6:35 am ET from a 5-day low of 1.5206 hit immediately following the release of the Bank of England inflation report.
With the cable staying well-above its 100-day simple moving average level, the next bullish barrier is seen around the 1.5540 area, its 200-day SMA.
For comments and feedback contact: editorial@rttnews.com
Forex News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.