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Pound Sterling Price News and Forecast: GBP/USD tumbles below 1.2700 after hot UK CPI

|ByFXStreet Team

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...

Pound Sterling strengthens as UK inflation accelerates faster than expected

The Pound Sterling (GBP) gains sharply against the majority of its peers on Wednesday as data from the United Kingdom (UK) Office for National Statistics (ONS) showed inflation accelerated more than expected in October. The Consumer Price Index (CPI) report showed that the annual headline inflation quickened to 2.3% YoY, higher than estimates of 2.2% and the September reading of 1.7%. Read More...

GBP/USD edges higher to near 1.2700 ahead of UK CPI inflation data

GBP/USD continues to gain ground for the third successive session, trading around 1.2690 during the Asian hours on Wednesday. The Pound Sterling (GBP) strengthens as markets price in less than a 20% chance of another rate cut from the Bank of England (BoE) this year, following the BoE Monetary Policy Report Hearings on Tuesday, where the central bank described interest rates as "moderately restrictive." Read More...
 
 

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