GBP/USD Price Analysis: Highs at Five-Week High, Unable to Break 1.2700
After the release of the US Consumer Price Index (CPI), the pound sterling gained around 0.30% and reached a five-week high of 1.2670. The data mostly matched estimates, indicating a continuation of the disinflation process, which had a negative impact on the dollar. At the time of writing, the GBP/USD rate is 1.2641. Read more…
Sterling rises to 1.2670 as cushioned US inflation raises prospects of Fed rate cut
During Wednesday’s US session, the pound sterling (GBP) hit a modern monthly high of 1.2670 against the US dollar (USD). GBP/USD is rising after a pointed hit by the US dollar due to an expected decline in the US Consumer Price Index (CPI) and stagnation in retail sales data for April. The U.S. Dollar Index (DXY), which tracks the value of the dollar against six major currencies, is falling sharply to near 104.50. Read more…
GBP/USD consolidates gains above 1.2580, everyone focuses on CPI data in the US
GBP/USD consolidates its gains near 1.2590 during Wednesday’s early Asian session. The major pair holds above the key 100-day exponential moving average (EMA) but remains capped below the 1.2600 threshold. The focus will be on the US Consumer Price Index and the retail sales report for April. Kashkari and Bowman from the Fed also made statements. Read more…
