Pound Sterling gains on soft UK inflation, mix US CPI data
The Pound Sterling (GBP) surges to near 1.2300 against the US Dollar (USD) in Wednesday’s North American session after the release of the United States (US) Consumer Price Index (CPI) report for December, which showed mixed numbers. The GBP/USD pair tumbled as the USD dives after the inflation data, with the US Dollar Index (DXY) sliding to near 108.70. Read More…
GBP/USD trades with mild negative bias around 1.2200 ahead of UK/US inflation data
The GBP/USD pair attracts some sellers during the Asian session on Wednesday, albeit it lacks follow-through and remains well within the previous day’s broader trading range. Spot prices currently trade around the 1.2200 mark, down 0.20% for the day, as investors now look forward to the release of the high-impact Consumer Price Index (CPI) data from the UK and the US before positioning for the next leg of a directional move. Read More…
GBP/USD grapples with lows as key inflation data looms ahead
GBP/USD is mired in near-term technical consolidation near the 1.2200 handle as key inflation metrics from the US and UK growth figures loom large through the midweek sessions. US Consumer Price Index (CPI) inflation is expected to accelerate, though a softening in US Producer Price Index (PPI) number has sparked a fresh round of investor hopes that inflation will not only cool, but do so enough to force a fresh bout of rate cutting rhetoric from the Federal Reserve (Fed). Read More…
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