GBP/USD aims to recover from losses near 1.2200, focus on UK CPI
GBP/USD retraces the recent gains registered in the previous session, trading lower around 1.2200 during the Asian session on Tuesday. The pair moves in consolidation possibly due to the market indecision about the trajectory of the US Federal Reserve's (Fed) monetary policy.
On Monday, the Rightmove House Price Index (MoM) increased to 0.5% in October from the previous 0.4%. The yearly data showed that residential property prices declined by 0.8% compared to the 0.4% decline in the previous report. Read more...
GBP/USD into 1.2215 ahead of UK wage figures
The GBP/USD gained on Monday, climbing back into 1.2215 as market risk appetite recovers heading into Tuesday's UK wages and US Retail Sales reading.
UK Average Earnings Excluding Bonuses is expected to hold steady at 7.8% on Tuesday, while the figure with bonuses added in is seen declining from 8.5% to 8.3%. Read more...
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