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...
GBP/USD churns below 1.27 ahead of UK CPI inflation print
GBP/USD churned chart paper just south of 1.2700 on Tuesday as Cable traders brace for a decently-sized UK data dump due on Wednesday, headlined by UK Consumer Price Index (CPI) inflation figures for October. US economic data takes a reprieve on Wednesday, leaving Cable markets the floorspace to focus on data that might tilt the Bank of England (BoE) toward or away from further rate cuts this year. Read More...
Pound Sterling slumps after MPC hearings, fresh escalation in Russia-Ukraine war
The Pound Sterling (GBP) fails to hold onto Monday’s recovery against the US Dollar (USD) and falls back in North American trading hours on Tuesday. The GBP/USD pair retreats as the US Dollar bounces back after fresh escalation in geopolitical tensions, which improved demand for safe-haven assets. The US Dollar Index (DXY), which gauges Greenback’s value against six major currencies, rebounds from 106.10 and aimd to recapture the annual high of 107.00. Read More...
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GBP/USD holds gains near 1.2700 after UK inflation data
GBP/USD holds the latest uptick near 1.2700 in the European session on Wednesday. The data from the UK showed that the annual inflation, as measured by the change in the CPI, rose to 2.3% in October from 1.7% in September, supporting Pound Sterling.
EUR/USD stays pressured below 1.0600, ECB/ Fedspeak eyed
EUR/USD remains depressed below 1.0600 in European trading on Wednesday. The US Dollar advances, tracking US Treasury bond yields higher even though risk appetite returns on fading Russia-Ukraine geopolitical tensions. Central banks' speeches are eyed for fresh impetus.
Gold price moves away from one-week top on rising US bond yields, modest USD strength
Gold price retreats after touching a one-and-half-week top earlier this Wednesday and drops to a fresh daily low, below the $2,630 level heading into the European session. A goodish pickup in the US Treasury bond yields, bolstered by bets for a less aggressive policy easing by the Fed, revives the USD demand and undermines demand for the non-yielding yellow metal.
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