UK pound is extending downside against the dollar on Tuesday as the greenback is staying upbeat ahead of US inflation data later in the global day that would provide further clarity on Federal course of action. GBPUSD is currently quoting at $1.2619, marginally down on the day. Bank of England Governor Andrew Bailey reportedly said on Monday it was not too important whether official data due this week shows the economy shrank in the final quarter of last year and entered a shallow 'technical' recession. On the domestic docket, UK is slated to release Claimant count change that could determine labor market situation in the region. On the NSE, GBPINR futures are seen choppy at 104.80.
Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.