The Pound Sterling (GBP) gained momentum against major currencies on Tuesday, bolstered by the release of the preliminary S&P Global Purchasing Managers' Index (PMI) for December, along with strong labor market data for the three months ending in October. The GBP/USD exchange rate climbed, reflecting increased investor confidence amid improved economic indicators.
As traders eye the upcoming US Non-Farm Payrolls (NFP) report, volatility is expected in the forex market. The GBP/EUR pair also saw upward movement, driven by a supportive economic backdrop in the UK. Market participants are keenly awaiting further insights into the Federal Reserve's monetary policy, which could influence USD strength and overall market sentiment in the coming days.
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Data Source: FX Killer Analysis Team Updated: 2025-12-16 11:19
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.