Pound to Dollar Today: GBP/USD Unaffected by High Impact US Data Releases

February 28, 2025 - Written by David Woodsmith

STORY LINK Pound to Dollar Today: GBP/USD Unaffected by High Impact US Data Releases

The Pound US Dollar exchange rate was rangebound on Thursday following the release of a duo of impactful US data releases.

At the time of writing, GBP/USD was trading at approximately $1.2674, virtually unchanged from the start of Thursday’s session.

Despite showing little movement against the Pound (GBP), the US Dollar (USD) strengthened against several other major currencies following the release of several key economic indicators.

On Thursday, the latest durable goods orders report for the US surpassed expectations, jumping from a previous decline of -1.8% to a robust 3.1%, well above the projected 2% increase.

The final GDP figure for the last quarter of 2024 aligned with market forecasts but showed a slowdown from 3.1% to 2.3%, which likely limited any substantial gains for the US Dollar.

On Thursday, the Pound once again found it difficult to gain traction as the absence of domestic data releases this week left the currency directionless once more.

Adding to the Pound's woes was a generally cautious market sentiment on Thursday.

Given the currency's heightened sensitivity to risk, the souring trading environment and the lack of economic catalysts put downward pressure on GBP exchange rates during the day’s European session.

Moving forward, the main driver for the Pound US Dollar exchange rate on Friday will likely be the release of additional economic data from the United States.

The US will unveil its latest core PCE price index, which is the Federal Reserve's preferred gauge of inflation.

The index is anticipated to decline from 2.8% to 2.6% in January. If the data meets expectations, it could fuel speculation about potential Fed interest rate cuts and in turn undermine the ‘Greenback’ at the end of the
week.

For the Pound, the lack of any UK economic data releases on Friday is expected to leave GBP exchange rates directionless once again as the week comes to an end.

International Money Transfer? Ask our resident FX expert a money transfer question or try John's new, free, no-obligation personal service! ,where he helps every step of the way, ensuring you get the best exchange rates on your currency requirements.

TAGS: Pound Dollar Forecasts