GBP/USD Price Forecast: Retreats Below 1.3200 After Strong US Data
The British pound erased earlier gains to fall below 1.3200 against the US dollar after the US Census Bureau reported stronger-than-expected US retail sales. Although the data did not change expectations for a 50 basis point (bps) Fed rate cut, GBP/USD posted losses of more than 0.20% to change hands at 1.3186. Read more…
Sterling trades cautiously ahead of UK inflation
The British pound (GBP) is facing selling pressure against its main rivals on Tuesday. The British currency is falling as investors become cautious ahead of the United Kingdom (UK) Consumer Price Index (CPI) data for August, which will be released on Wednesday. Inflation data will have a significant impact on market speculation about the path of Bank of England (BoE) interest rates in the final quarter of the year, as interest rates are expected to remain unchanged on Thursday. Read more…
GBP/USD Consolidates Around 1.3200, Expects Short-Term US Retail Sales Boost
GBP/USD is trading in a narrow trading range just above the 1.3200 level during the Asian session on Tuesday, consolidating a mighty move from the previous day to a more than one-week high. Traders are opting to pull back ahead of key risks from central bank events – the highly anticipated two-day FOMC meeting starting on Tuesday and the Bank of England (BoE) policy update on Thursday. Read more…
