Pound Sterling Price News and Forecast: GBP/USD choppy, directionless in low 1.3500s despite better risk appetite

GBP/USD choppy, directionless in low 1.3500s despite better risk appetite, strong UK wage growth figures

GBP/USD has seen choppy, two-way trading conditions on Tuesday, swinging between session highs in the 1.3560s and sub-1.3500 session lows as the pair, for the most part, stuck to recent intra-day ranges. Despite a decent rebound in global equity markets on signs of easing Russia/Ukraine tensions and despite hotter than expected December UK wage growth figures which economists said bolsters the case for BoE tightening, GBP has been lackluster. At current levels near 1.3525, GBP/USD trades flat on the day. Read more...

UK Inflation Preview: December’s 30-year top appears at risk; pound has room to rise

GBP/USD has shot higher towards 1.3600, in reaction to the encouraging news from the Russian military, which lifted the overall market mood. Will cable continue its renewed upside on the UK inflation data that is due for release at 0700 GMT on Wednesday. After the Bank of England (BOE) delivered a hawkish 25-basis point rate hike in January to combat soaring inflation, the British pound has stood resilient in the face of the Fed’s hawkish market pricing, the Russia-Ukraine crisis and Brexit concerns. Read more...

GBP/USD Forecast: Resolution of Russia-Ukraine conflict to open the door to 1.3600

GBP/USD has reversed its direction after falling all the way down to 1.3500 and recovered above 1.3550. The pair awaits new developments on the Russia-Ukraine conflict before extending its rebound. In case the market mood continues to improve, GBP/USD could target 1.3600 next. Earlier in the day, Russia's Ifax news agency reported that Russian troops were returning to barracks after finishing the drills. The initial market reaction to this headline allowed investors to breathe a sigh of relief and risk-sensitive assets gained traction. As of writing, the UK's FTSE 100 Index was up 0.8% and S&P Futures were rising more than 1%. Read more...