GBP/USD trades above 1.2650, upside potential seems limited due to cautious Fed
GBP/USD edges higher to near 1.2650 during the Asian trading hours on Thursday. This downside could be attributed to the softer US Dollar (USD). The US Dollar Index (DXY), which measures the value of the USD against its six major peers, holds ground near 106.50 at the time of writing. Read More…
GBP/USD grapples with the low side after CPI upswing fails to spark a bid
GBP/USD struggled to find a direction on Wednesday, testing the bounds of the 1.2700 handle before facing a downside rejection and ending the midweek market session a fifth of a percent lower than it started. Despite an above-forecast print in UK Consumer Price Index (CPI) inflation figures, the Pound Sterling still waffled as the Bank of England (BoE) looks set to write off another rate cut in 2024 as the UK grapples with still-sticky inflation. Read More…
GBP/USD Price Forecast: Tumbles below 1.2700 after hot UK CPI
The Pound Sterling lost ground versus the US Dollar on Wednesday following a hot UK inflation report, which increased the chances that the Bank of England (BoE) would pause its easing cycle. The GBP/USD trades at 1.2643, down 0.30% after hitting a high of 1.2714. Read More…
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