07/09/2026
The Pound Is Rising
showed positive momentum against the .S. on Monday. The posted a modest gain. The greenback was under significant pressure ahead of key macroeconomic releases. The main driver of the current five-day trading session is the latest U.S. consumer inflation data, expected later this week. Trading activity was subdued due to the Labor Day holiday across the Atlantic. The absence of New York-based institutional participants reduced liquidity in the trading sessions, resulting in narrow trading ranges. The GBP/USD pair rose by 0.14%, reaching 1.3535. The EUR/USD pair gained 0.07%, settling near 1.1622 as of 12:10 p.m. Moscow time. Investors are maintaining a wait-and-see approach as they analyze the Federal Reserve’s next moves.
Chris Turner, a leading expert who heads ING’s market strategy and global research for the United Kingdom, Central, and Eastern Europe, expressed surprise at the current situation. In his view, the dollar should be performing significantly better than it is now. The expert pointed to high energy prices, along with August’s nonfarm payrolls data, which significantly exceeded negative forecasts. U.S. economic fundamentals are showing resilience: a strong jobs market, coupled with high oil prices, traditionally fuels interest rates, providing robust support for the dollar. However, traders are opting to take profits, fearing a slowdown in the inflationary trend that could prompt the central bank to ease monetary policy.
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