The GBP/USD pair gains traction above the mid-1.2100s during the Asian session on Monday. The softer US Dollar (USD) lends some support to the pair. T
GBP/USD holds positive ground near 1.2160 amid the USD weakness. Bank of England Governor Andrew Bailey said rates will likely remain around the current 5.25% to return inflation to 2%. Investors have priced in a potential rate rise by the Federal Reserve by the end of the year. Market players will monitor the UK employment data, US Retail Sales due on Tuesday. he risk sentiment dominate the market ahead of the key UK employment data and US Retail Sales on Tuesday.
The University of Michigan one-year Inflation expectations climbed from 3.2% to 3.8%, and five-year inflation estimates jumped from 2.8% to 3%. Meanwhile, the US Michigan Consumer Sentiment Index data on Friday dropped to 63.0 versus 68.1 prior, missing the expectation of 67.4. The US Consumer Price Index annually and monthly for September came in at 3.7% and 0.4%, respectively. However, the dovish comments from Fed officials might warrant bull traders on the aggressive bullish bets.
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