GBP/USD backslid after UK and US CPI inflation both fell below expectations
GBP/USD pulled back and declined below 1.28500 on Wednesday after Consumer Price Index (CPI) inflation eased lower on both sides of the Atlantic. Cable has snapped a four-day win streak, and heads into the back half of the trading week on the backfoot with UK Gross Domestic Product (GDP) growth figures and US Retail Sales on the docket. Read More...
Pound Sterling recovers losses against US Dollar as US inflation slows expectedly
The Pound Sterling (GBP) recovers its intraday losses to a two-week high at 1.2870 against the US Dollar (USD) in Wednesday’s North American session. The GBP/USD pair rebounds as the US Dollar (USD) falls after the United States Consumer Price Index (CPI) report showed that price pressures declined expectedly in July. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, hovers near a fresh weekly low around 102.30. Read More...
GBP/USD consolidates in a range above mid-1.2700s ahead of inflation data from UK and US
The GBP/USD pair ticks lower during the Asian session on Wednesday and moves away from over a two-week high, around the 1.2870-1.2875 region touched the previous day. The downside, however, remains cushioned as traders keenly await the release of the latest consumer inflation figures from the UK and the US. Read More...
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After reaching fresh six-month peaks near 1.3250, GBP/USD is now coming under renewed selling pressure in response to a decent rebound in the US Dollar and is slipping back toward the 1.3200 support area. Next on tap on the UK docket will be the inflation figures, expected on Wednesday.
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