- GBP/USD gains ground possibly as traders project annual UK GDP to expand in Q4 2024.
- BoE’s Catherine Mann expressed concerns over weakening demand in the United Kingdom.
- January’s inflation in January has reduced the likelihood of a dovish Fed stance for the June policy meeting.
GBP/USD extends its winning streak for the third consecutive day, trading around 1.2460 during Thursday’s Asian session. Traders await the UK’s preliminary Gross Domestic Product (GDP) data due later in the day. Economists expect a contraction in Q4 GDP, though the economy is projected to expand on an annual basis.
The outlook for
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