Pound Sterling Price News and Forecast: GBP/USD dips under 1.2700 despite hot UK inflation

FXStreet Team FXStreet

GBP/USD Price Forecast: Dips under 1.2700 despite hot UK inflation

The Pound Sterling lost some ground against the US Dollar on Wednesday even though UK inflation data for November was higher than in the previous month. This and expansionary fiscal policy might prevent the Bank of England from cutting rates, although the economy has shown some signs of weakness. The GBP/USD trades at 1.2695, failing to clear the 1.2700 mark decisively. Read More...

Pound Sterling consolidates ahead of Fed-BoE policy announcement

The Pound Sterling (GBP) remains broadly sideways against the US Dollar (USD) around 1.2700 in Wednesday’s North American session. The US Dollar consolidates ahead of the Federal Reserve’s (Fed) monetary policy announcement at 19:00 GMT. According to the CME FedWatch tool, traders have priced in a 25-bps interest-rate reduction, which would be the third consecutive interest rate cut. Read More...

GBP/USD consolidates around 1.2700 mark ahead of UK CPI, FOMC decision

The GBP/USD pair struggles to capitalize on a two-day-old recovery move from the vicinity of the 1.2600 mark, or a three-week low touched on Monday and oscillates in a narrow band during the Asian session. Spot prices currently trade around the 1.2700 round figure, nearly unchanged for the day as traders keenly await the outcome of the highly-anticipated FOMC policy meeting before placing fresh directional bets. Read More...

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