Sterling rises on weak UK inflation and mixed US CPI data
The British pound rose to nearly 1.2300 against the US dollar in the North American session on Wednesday after the release of the US Consumer Price Index (CPI) report for December, which showed mixed numbers. The GBP/USD pair fell as the US dollar fell after inflation data, with the US Dollar Index (DXY) falling to near 108.70. Read more…
GBP/USD is trading with a moderate negative bias around the 1.2200 area ahead of UK/US inflation data
The GBP/USD pair is attracting some sellers during the Asian session on Wednesday, although it lacks follow-through and remains within the previous day’s broader trading range. Spot prices are currently trading around the 1.2200 level, down 0.20% on the day, as investors now look forward to the release of high-impact Consumer Price Index (CPI) data from the UK and US before entering into trading positions for the next leg of the rally. Directional move. Read more…
GBP/USD is grappling with lows as key inflation data approaches
Mired in near-term technical consolidation near the 1.2200 level as key inflation metrics from US and UK growth figures loom large during the mid-week sessions. US Consumer Price Index (CPI) inflation is expected to accelerate, although a decline in the US Producer Price Index (PPI) number has sparked a new round of investor hopes that inflation will not only subside, but will do so enough to force a wave New inflation. Interest rate cut letter from the Federal Reserve. Read more…
