The Pound Sterling (GBP) clings to gains near the round-level figure of 1.3200 against the US Dollar (USD) in Tuesday’s London session.
The Pound Sterling trades sideways around 1.3200 against the US Dollar, with investors focusing on the US core PCE inflation data for July. Fed ’s Mary Daly kept doors open for an aggressive policy easing if the US labor market deteriorates. British shop price inflation slowed sharply in August. The Pound Sterling clings to gains near the round-level figure of 1.3200 against the US Dollar in Tuesday’s London session.
A slowdown in the shop price inflation is unlikely to increase expectations of BoE interest rate cuts in September as officials are still concerned about sticky price pressures in the service sector due to wage pressures. However, it could boost speculation for another rate cut before the year ends. Technical Analysis: Pound Sterling consolidates near 1.3200 The Pound Sterling turns sideways after posting a fresh two-an-a-half-year high of 1.3200 against the US Dollar.
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