GBP/USD surges as dovish Fed comments weaken US Dollar
GBP/USD rallies sharply for the fourth straight day as the Greenback tumbles following dovish remarks by US Federal Reserve officials, suggesting a deceleration in inflation would warrant lower rates. After those words, the major has printed a leg-up and trades above the 1.2700 figure, posting more than 0.60% gains.
Recently, Fed Governor Christopher Waller, a hawkish member of the Federal Open Market Committee (FOMC), suggested that if inflation consistently declined, there was no reason to keep rates higher. That sent the S&P 500 rallying, while the US Dollar Index (DXY) plunged more than 0.50%, extending its losses toward the 102.63 area. Read more…
GBP/USD: Scope for losses appears limited – Scotiabank
GBP/USD gains are blocked in the mid-1.26s. Economists at Scotiabank analyze the pair’s outlook. Read more…
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