Pound to Dollar Rate Bullish Trend Intact as Sterling Outperforms

April 28, 2025 - Written by Ben Hughes

STORY LINK Pound to Dollar Rate Bullish Trend Intact as Sterling Outperforms

The Pound US Dollar exchange rate was buoyed on Monday following the UK’s latest CBI distributive trades reading.

"GBP is up a modest 0.2% in quiet trade, outperforming most of the G10 currencies heading into Monday’s NA session," said Shaun Osborne, Chief FX Strategist at Scotiabank in a commercial brief on Monday.

At the time of writing, GBP/USD was trading at approximately $1.3371, up roughly 0.2% from the start of Monday’s session.

On Monday, the Pound (GBP) saw an uptick against most of its major trading partners following the release of the UK's latest CBI distributive trades index for April.

The index registered at -8, far exceeding the market's forecast of -20 and showing a significant improvement from the previous month's reading of -41.

Although it still points to another month of contraction, this was the highest reading since October 2024, which provided a boost to GBP exchange rates following the release.

On Monday, the US Dollar (USD) maintained its stability and even strengthened against several of its counterparts despite the lack of new US data releases.


The 'Greenback' was mainly supported by the day's negative trading environment and its status as a safe-haven currency.

However, USD investors were hesitant to make any overly aggressive moves, as they awaited a series of important data releases scheduled for this week, including the latest JOLT's job openings report on Tuesday.

As we look toward Tuesday, the key driver for the Pound US Dollar exchange rate will likely be the release of the latest US jobs data.

The JOLT’s report on job openings is expected to show a further decline from last month, which could put downward pressure on the USD if it fuels concerns about the US economy's health.

On the Pound side, investors will be closely watching a speech by Bank of England (BoE) official, Dave Ramsden.

If Ramsden’s remarks hint at a dovish stance, the Pound could weaken during Tuesday’s European trading session.

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TAGS: Pound Dollar Forecasts