GBP/USD hovers above 1.2150 major level, focus on UK employment, PMI data

GBP/USD struggles to continue the winning streak. trading around 1.2160 during the Asian session on Monday. However, the currency pair encountered a h

GBP/USD struggles to extend gains as US Dollar rebounds. UK Retail Sales dipped to 0.9% against the expected 0.1% decline. Upbeat US Treasury yields providesupport to underpin the Greenback. urdle following the release of downbeat United Kingdom Retail Sales data for September on Friday. The Pound Sterling managed to recover its losses against the weaker US Dollar . Monthly Retail Sales revealed a 0.9% decline, in contrast to the expected 0.1% decrease, following a modest 0.4% rise in August.

Powell also mentioned that additional tightening of monetary policy might be necessary if there are further signs of growth or the labor market stops improving. Atlanta Fed President Raphael Bostic shared his belief on Friday that the US central bank is unlikely to lower interest rates before the middle of next year. Fed Philadelphia President Patrick Harker reiterated his inclination to maintain unchanged interest rates.

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