The Pound Sterling jumps to 1.2750 as UK inflation for April remains hotter than expected. UK annual core inflation rose by 3.9%, likely impacting BoE rate-cut hopes for August. The next move in the US Dollar will be guided by the FOMC minutes. The Pound Sterling rallies to 1.2750 in Wednesday’s European session as the United Kingdom Office for National Statistics has reported a slower-than-expected decline in the Consumer Price Index data for April.
The FOMC minutes will provide more guidance on the interest rate outlook. Technical Analysis: Pound Sterling recaptures two-month high at 1.2750 The Pound Sterling approaches a nine-month high at around 1.2900 registered in early March. The appeal for the GBP/USD pair has strengthened as it has comfortably stabilized above the 61.8% Fibonacci retracement at 1.2667.
Inflation BOE Fed SEO
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pound Sterling extends downside on firm BoE rate cut prospectsThe Pound Sterling (GBP) remains on the back foot in Monday’s London session as investors continue to price in the Bank of England (BoE) will pivot to interest-rate cuts earlier than the US Federal Reserve (Fed).
Source: FXStreetNews - 🏆 14. / 72 Read more »
Pound Sterling consolidates in holiday-shortened week, BoE policy in focusThe Pound Sterling (GBP) is stuck in a tight range around 1.2550 against the US Dollar (USD) in Monday’s London session.
Source: FXStreetNews - 🏆 14. / 72 Read more »
Pound Sterling retreats as investors see BoE reducing rates before FedThe Pound Sterling (GBP) drops to 1.2540 against the US Dollar in Tuesday’s London session.
Source: FXStreetNews - 🏆 14. / 72 Read more »
Pound Sterling corrects amid uncertainty ahead of BoE’s policy decisionThe Pound Sterling (GBP) slips below the psychological support of 1.2500 against the US Dollar (USD) in Wednesday’s London session.
Source: FXStreetNews - 🏆 14. / 72 Read more »
Pound Sterling stays below 1.2500 ahead of BoE’s policy decisionThe Pound Sterling (GBP) extends its downside to 1.2470 against the US Dollar (USD) in Thursday’s London session.
Source: FXStreetNews - 🏆 14. / 72 Read more »
GBP/USD Forecast: BoE dovishness weighs on Pound SterlingThroughout the week, the British Pound (GBP) traded in a choppy fashion and struggled to extend gains seen in the previous couple of weeks against the US Dollar (USD), prompting GBP/USD to recoup ground lost in the first half of the week and flirt with the key 200-day SMA around 1.2540 on Friday.
Source: FXStreetNews - 🏆 14. / 72 Read more »